Zimbabwe Stock Exchange (ZSE) investors have increasingly become jittery over the coronavirus crisis and are now dumping stock for cash.
According to Equity Axis, all indices closed in the red on Thursday, with the mainstream All Share Index dropping 2.80% to 466.94pts while the Industrials slumped 2.75% to end at 1548.73pts.
Investors are opting for cash because of uncertainty ahead with some businesses having already reduced working hours while others have gone into partial lockdown. Equity Axis summaries Thursday’s performance as follows:
Retailer Truworths led the fallers of the day after letting go 19.78% to $0.0722 with Dawn following after a 19.63% slide to $0.0815. Nickel Miner Bindura lost 14.06% to see it trading at $0.3000 where demand could be established.
The duo of ZHL and Lafarge capped the losers set after retreating 9.51% and 9.37% each to close at $0.3846 and $3.0000 in that respective order.
… Out of thirty-eight active stocks, four gained whilst twenty-eight lost ground, leaving the remainder of six tradings unchanged…