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ZSE Re-Bases Indices On Currency Changes

ZSE Re-Bases Indices On Currency Changes

The Zimbabwe Stock Exchange (ZSE) has re-based indices following the introduction of the new structured currency Zimbabwe Gold (ZiG), as espoused in the 2024 Monetary Policy Statement announced on April 5, 2024.

In line with this, the ZSE made adjustments that were implemented effective April 08, 2024, to include trading in the ZiG currency.

Price sheets across boards on the bourse namely the Equity Board, Real Estate Investment Trust (REIT) Board, and Exchange Traded Fund (ETF) Board, were distributed in ZiG currency since Monday, April 8, 2024.

Indices were also rebased to 100.

“For ease of reference, all prices will be shown in ZiG cents (ZiG price multiplied by 100),” explained ZSE chief executive officer Mr Justin Bgoni.

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“Effective April 8, 2024 all the ZSE indices will be re-based to 100 basis points. The re-basing is necessary to allow the indices to accurately reflect the performance of the market in the context of the new currency ZiG.

“All daily market reports of the ZSE will now be presented in the ZiG currency.

“As stated above, for ease of reference, all prices will be shown in ZiG cents (ZiG price multiplied by 100). We kindly request for your understanding during this transition period,” said Mr Bgoni.

Meanwhile, the first trading in ZiG saw the ZSE All Share Index recover 0,23 percent to close the session at 100.23 points.

Trading in the positive were agriculture concern Ariston Holdings, which gained ZiG1,5779 cents to ZiG4,2500 cents, and sugar processor Starafrica added ZiG 0,3237 cents, closing at ZiG 1 cents.

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ALSO READ: Harare Street Vendors Reject Zimdollar Notes

On the downside was beverages giant Delta, which gave up ZiG 0,3761 cents to close at ZiG 680 cents. Losses in Delta dragged the market heavies index, ZSE Top 10 Index, by 0,02 percent to 99,98 points.

As of yesterday’s trades, the market recovered led by gains in Starafrica, which put on 35 percent to close at ZiG 1,35 cents followed by fintech group EcoCash, which rose 14 percent to ZiG 32,65 cents.

There were no losses recorded while the two REITs — Revitus and Tigere remained unchanged at ZiG 22,41 cents and ZiG 48,85 cents respectively.

On the Exchange Traded Funds (ETFs) market, all the counter namely Cass Saddle, Datvest, Morgan and Co Made in Zim, Morgan and Co Multi-Sector and Old Mutual ETFs also remained unchanged at ZiG 0,4558 cents, ZiG 1,7609 cents, ZiG 0,84 cents, ZiG 36,68 cents and ZiG 9,2025 cents in that order.

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