HARARE-- The Zimbabwe Stock Exchange (ZSE) has extended its trading hours by a further two and half hours since June 1 with continuous session running from 10 am to 3 pm a daily.

It said in a notice Monday regarding the new market schedule that the period of trading activity which takes place just before the regular stock market session -- the pre-open session -- will start at 9 am stretching to 10 am, when it officially opens, and remains a continuous session until close at 3 pm.

In anticipation of substantial trading volumes and in light of certain classes of investors entering the market at the closing price, the post-close session will run for about 30 minutes starting at 3 pm and ending at 3:30 pm, while 4 pm would be the suspend time.

The extension is meant to increase access to the market by investors, improve market liquidity and deepen the markets, the ZSE said. The extension will, however, result in changes to the delivery time of market data reports, which are normally circulated within an hour from the post close.

At least 63 companies are listed on the local bourse. Last Friday, foreigners bought shares worth one million US ollars against foreign sales of 330 845 USD.


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