Zimbabwe Stock Exchange loses more than $5 billion in 5 days due to military coup

The Zimbabwe Stock Exchange (ZSE) lost more than $5 billion in 5 days owing to the country’s  political uncertainty.

Both the industrial index and mining index lost 10,36 percent and 3,41 percent on Tuesday to close at 347,25 points and 129,82 points respectively. The mainstream index has so far dropped 35 percent since Wednesday when the military announced they had taken control.

Market capitalisation stood at $9,9 billion on Tuesday while $2,6 million was recorded in market turnover. The largest company by market cap , Delta lost 19,87 percent in the day to trade at 131,4 cents. Axia and Barclays dropped 19,8 percent and 19,71 percent to settle at 20,05 cents and 5,62 cents respectively. Lafarge also lost 19,37 percent to trade 144 cents. Fidelity and Meikles lost 15,38 percent and 15,21 percent to 11 cents and 28,83 cents respectively while Turnall and Zim papers lost 15,25 percent and 15,38 percent to close at 1 cent and 1,1 cents respectively.