Print
Email Article
Zimbabwe's stock market remained on the down trend in October, the African Development Bank (AfDB) says.
The bank announced in its November monthly economic review on Zimbabwe that industrial and mining indices on the Zimbabwe Stock Exchange (ZSE) fell from 155,82 and 152,42 at the close of trade in September to 143,58 and 131,75 at the close of trade in October respectively.
Turnover on the ZSE was modest at 545,149,636 shares worth $38,6 million, a second highest since the beginning of the year after a turnover of 619,769,026 in July 2011 and it is against the backdrop of investors taking hedge positions to preserve their investment in the face of threats posed by the Indigenisation Act.
According to AfDB October marked the fourth consecutive month of the slide in market capitalization and the subdued performance was attributed to the current negative perception of the country as a risky investment destination.
The bank announced in its November monthly economic review on Zimbabwe that industrial and mining indices on the Zimbabwe Stock Exchange (ZSE) fell from 155,82 and 152,42 at the close of trade in September to 143,58 and 131,75 at the close of trade in October respectively.
Turnover on the ZSE was modest at 545,149,636 shares worth $38,6 million, a second highest since the beginning of the year after a turnover of 619,769,026 in July 2011 and it is against the backdrop of investors taking hedge positions to preserve their investment in the face of threats posed by the Indigenisation Act.
According to AfDB October marked the fourth consecutive month of the slide in market capitalization and the subdued performance was attributed to the current negative perception of the country as a risky investment destination.
|
