THE value of shares that exchanged hands on the Zimbabwe Stock Exchange (ZSE) was US$26 million last month, a 40% drop from the October figures attributed to subdued trading on the bourse.<\/p>\n
According to statistics from ZSE, turnover was US$26 724 066,76 last month, down from US$37 860 867,70 in October.<\/p>\n
Based on the data, turnover for the year would be lower than the US$477 million recorded in 2011.<\/p>\n
According to latest data, in the 11 months to November, turnover was at US$422 389 619,74.<\/p>\n
To reach last year’s levels, the value of shares that exchanged hands this month should be above US$50 million. December is not a favourite month for investors on ZSE. Since the use of multi-currencies in 2009, turnover for the month had never reached the US$50 million mark.<\/p>\n
The revelations could be a fresh set-back for the bourse that had been registering growth in annual turnovers.<\/p>\n
It means gloom for the majority of the country’s stockbrokers that derive most of its income from the buying and selling of shares.<\/p>\n
Stockbrokers derive their income from the 1% commission levied on the buying and selling of shares and a fixed charge of US$2 per transaction.<\/p>\n
Stockbrokers also derive income from advisory works.<\/p>\n
Brokers are however constrained by other charges such as the 0,18% SEC levy, 0,25% stamp duty and VAT, at 15% of brokerage.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
THE value of shares that exchanged hands on the Zimbabwe Stock Exchange (ZSE) was US$26 million last month, a 40% drop from the October figures attributed to subdued trading on the bourse. According to statistics from ZSE, turnover was US$26 724 066,76 last month, down from US$37 860 867,70 in October. Based on the data, turnover for the year would be lower than the US$477 million recorded in 2011<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-237688","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n