ZSE and VFEX close October higher as market gains momentum
Zimbabwe’s main stock exchange gained ground during October, with total market value climbing 2.89 percent to ZiG68.02 billion. The United States dollar equivalent also rose 1.09 percent, reaching $2.19 billion, reflecting stable currency conditions and improved investor confidence.
Trading activity showed mixed patterns as overall transaction value decreased 14.28 percent while share volumes increased 25.30 percent. Delta Corporation dominated trading activity, representing nearly half of all transactions, followed by Econet Wireless. Individual stock performance varied widely, with Turnall Holdings surging 138 percent and Dairibord Zimbabwe advancing 43 percent, while First Mutual Properties declined 54 percent.
The Victoria Falls Stock Exchange also posted gains with market capitalization rising 5.71 percent to $1.91 billion. Mining company Kavango Resources led price increases, climbing 31 percent, while financial services firm Caledonia Investments gained 30 percent. Analysts noted caution despite recent improvements, citing limited potential for additional upward movement across most securities.
