MARKET capitalisation on the Zimbabwe Stock Exchange (ZSE) was back at US$4 billion last month driven by the participation of foreign investors after over a year below the mark, according to officials from the bourse.
Report by Our Staff
Market capitalisation represents the aggregate value of a company or stock and is obtained by multiplying the number of shares outstanding by the current price for a share.
It is one of the yardsticks used to measure a company’s performance. ZSE data showed that market capitalisation was at US$4 033 762 069 up from US$3 822 796, the ninth highest point since the use of multi-currencies in 2009.
The market cap had breached the US$4 billion mark in January last year and reached an all-time high of US$4 267 499 484 five months later.
It went on a retreat before picking up in the last three months. Foreign investors were the major players on the bourse after buying shares worth US$23 713 412,66 and sold shares worth US$9 875 938,67.
This means they contributed over 80% to turnover for the month.
The total value of shares that exchanged hands during the month was US$37 860 867,70 up from US$30 227 959,94 recorded in September.
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The stock exchange shows the health status of the economy and its performance is being closely followed by investors.
