THE Zimbabwe Stock Exchange (ZSE) recorded mixed performance in the second month of the year with the market capitalisation declining to $4,35 billion from the $4,36 billion in January this year.
BY OUR STAFF
Statistics from the ZSE shows that the market capitalisation of the local bourse has been on a downward trend since December 2014. Market capitalization measures the total value of the issued shares of a publicly traded company.
The poor performance has been attributed to the depressed economic activity marked by liquidity challenges and low foreign direct investment inflows. The country has also been failing to attract significant investors that could participate at the local bourse.
Value traded for the month of February stood at $34,7 million compared to $16 million in January last year.
The mining index gained during the month of February to 58,13 points from 55,38 points in January. The mining index was buoyed by the performance of Bindura during the period under review while the other mining counters were trading at low levels.
The counters included RioZim, Falgold and Hwange.
The Industrial index gained 167,16 points in February from 164,90 points in January this year.
The ZSE in 2014 registered subdued trading and the market capitalisation averaged between $4billion and $5 billion. The mining index rose in 2014 from 45,79 points to 70,38 points.