The Victoria Falls Stock Exchange market capitalization was 3.62% ahead that of March at US$1.45bn, whilst the All-Share index gained by 3.94% for the month. Padenga was the best performer, rising 62% in March, on sentiment of rallying gold prices. On the other hand, FCB shed 18%, making it the worst performer of the month.
Activity on the bourse was strong with total value traded rising 52.72% to US$3.86mn whilst volumes decreased 1.33% to 26.36mn. Innscor led in value traded at US$1.64mn whilst Axia led in the volumes category at 7.84mn shares.
The increase in market capitalization provides confidence to the bourse, with which the pipeline of counters considering migrating to it remains healthy. Notably, the Eagle REIT is expected to list on the 16th of May.
Forward-looking, as pricing on the bourse has remained stable, the absence of capital appreciation propels us towards defensive stocks that have strong dividend policies.
