BLUE chip counters, Delta Corporation and Econet Wireless Zimbabwe were the most sought-after counters on the Zimbabwe Stock Exchange (ZSE) during the second quarter ended June 30, 2024, as investors opted for high-value stocks amid concerns that the market is undervalued.
Analysts are on record saying the ZSE is heavily undervalued due to authorities’ tightening of liquidity in the economy, resulting in limited trading of stocks on the bourse.
According to latest figures from the ZSE newsletter for the second quarter of 2024, total market turnover reached ZWG184 million at the close of the period under review with five counters (Delta, Econet, Ecocash, NMB and Meikles) contributing 90 percent of ZSE total turnover.