There are a myriad of factors that determine the price of stock on a stock exchange.

It is important for investors to understand how the price of a stock is arrived at so they can make informed decisions on their investment portfolios. Several factors determine the price changes in a share.

The Initial Public Offering price per share and the actual mechanics of what happens may be considered complicated, but the basic idea is simple economics: the price is set as the number which balances supply and demand. Specialists such as financial analysts, fund managers and securities dealers carry out calculations and valuations to determine the
initial or opening price of a share when it gets listed on a stock exchange.

The secondary market of an exchange functions like an auction meaning buyers and sellers of securities are lining up on either side for a potential trade, one party willing to
buy and the other willing to sell its ownership. When the two agree on a price, a trade is matched and that becomes the new market quotation.

Because the stock market functions like an auction, when there are more buyers than there are sellers, the price has to adapt or no trades are made. 

This tends to drive the price upwards, increasing the market quotation at which investors can sell their shares, enticing investors who had previously not been interested in selling to sell. 

On the other hand, when sellers outnumber buyers, there is a rush to dump stock and whoever is willing to take the lowest bid sets the price resulting in a race-to-the-bottom.

Stock Exchanges that operate sophisticated systems track security prices in real time and every time there is a trade the volume-weighted-price of that stock is re-calculated.

This recalculation also gives a revised market capitalisation of that particular stock as well as that of the entire market.

There are other events that affect securities prices. Some of these events include but are not limited to performance of the industry in which the company operates in.

Any positive sentiments within a particular industry tend to push demand for stocks in companies that operate in that industry and vice-versa.

Securities prices are also influenced by the general economic performance at any given time.

Stock markets are usually a good indicator of the state of the economy.

A well performing economy reflects in higher and more sustainable activity by long term investors on the local bourse.

Major political, economic and social events that occur in the country can indirectly affect a company listed on an exchange. Another factor is the market itself.

While a stock may rise and fall on its own merits, it may also benefit just by being in a market that is on the rise, called a ‘bull market’ or a market that is on a retreat, called a ‘bear market’.

Certain market conditions like bear markets require investors to take quick action.

This is made simple by the C-TRADE platform which enables any Zimbabwean in and out of the country to buy shares anytime anywhere without visiting a stockbroker.

C- TRADE has investor interface tools such as a Web Portal which is only accessible to retail investors.

The Web Portal offers an advanced interface which allows investors to participate on the exchange in real-time through personal computers and gives them rich stock market
information.

There is also an app-based solution for retail investors on smart phones. The USSD-based solution is targeted at non-smart phone users and integrates mobile money
services. 

To find out more about C-TRADE visit www.ctrade.co.zw.

The C-TRADE platform is convenient in that it allows investors to choose from two marketplaces; the Zimbabwe Stock Exchange and the Financial Securities Exchange with each market catering to the varying preferences of investors, whether immediacy of execution, or best price, or least market impact, or different type of trading system altogether.

BY JAIROS SAUNYAMA

Government has vowed to compensate all farmers in Mashonaland East province who lost their herd to January Disease in the past rainy season.

Farmers, mainly in Wedza, Chikomba and Goromonzi districts, were left counting losses after the disease, also known as Theileriosis, killed thousands of cattle. Some were left without a single beast.

Speaking to Zanu PF supporters in Marondera recently, Mashonaland East Provincial Affairs minister Appollonia Munzverengi said plans were afoot to compensate the farmers.

“A lot of farmers lost their cattle due to the January Disease and government is aware of that. Currently, there are plans to compensate those who lost their heads. Once
everything is finalised, the farmers will be receiving the cattle. Government is seized with replenishing the national herd, hence we are happy that the farmers will get
something,” she said.

According to government statistics, about 50 000 cattle across the country died due to Theileriosis in the 2017-2018 rainy season. About 5 000 cattle died in Mashonaland East
province alone.

Theileriosis, prevalent between December and March, is most common in January, hence the name January disease. The disease is spread by the brown tick and caused by non-dipping
of livestock.

A number of dip tanks in the province are in a dilapidated state, with farmers struggling to purchase chemicals to spray or dip their cattle.

BY OBEY MANAYITI

THE Zimbabwe Anti-Corruption Commission (Zacc) says it will dig deep into senior Zanu PF and government officials’ feeding troughs, among them Command Agriculture, the National Social Security Authority (NSSA) and various other institutions that were exposed by the Auditor-General (AG) in its renewed fight against corruption.

In an interview after the swearing-in of Zacc commissioners at State House yesterday, chairperson Loice Matanda-Moyo said they were currently investigating almost 200 cases of corruption.

Zacc has largely been seen as a toothless bulldog, which is only used to pursue personal scores and to push a factional agenda within Zanu PF.
Matanda-Moyo said they were ready to get down to work.

“We are now properly constituted and we can now start our functions in terms of the Constitution. New decisions can now be made and there is nothing that can stop the work of Zacc from commencing,” she said.

She, however, refused to divulge the names of those under investigation, but said they were using the AG’s report, Command Agriculture and NSSA audit reports in their probe.

She said already, there were too many cases before them to deal with.

“For now, we are still doing the investigations. We have the Auditor-General’s report, we have the NSSA audit report, we have the Hwange issues, we have Command Agriculture. We
have so many cases that we are handling at the moment,” she said.

The AG has, on a yearly basis, exposed deep-rooted corruption, particularly by senior government officials and those heading parastatals.

Over the years, the government has lost millions of dollars through corruption, as exposed by the AG, although there seems to be reluctance in tackling the issue.

Government has channelled billions of dollars into Command Agriculture, which has not yielded the much-desired result, raising fears that the money could have been diverted from
the project for personal use by top government and senior Zanu PF officials.

At one point, the matter was at the centre of Zanu PF factional fights.

Hwange Colliery Company and NSSA are other areas where, according to audit reports, plunder of resources by a few top connected officials took place.

The Hwange issue caused pandemonium in Parliament after those in high offices were implicated.

The drama at NSSA has also led to fights within the ruling party, with the youth league naming and shaming senior government officials, including Cabinet ministers and Zanu PF
officials, for reportedly swindling the institution of millions of dollars.

The eight commissioners sworn in yesterday were Fungai Jessie Majome, John Makamure, Marble Ndakaripa Hungwe, Gabriel Chaibva, Thandiwe Thando Mlobane, Frank Muchengwa, Michael
Dennis Santu and Kuziva Phineas Murapa.

Matanda-Moyo said she was impressed with the commissioners, adding that people must have confidence in her because as a judge, she will be honest and thorough.

“I am quite happy with the CVs of the commissioners. We have auditor-generals, we have accountants, we have police and lawyers, so we have a very good team and I am confident

that Zacc is going to perform with the type of commissioners that I have got.”
Majome said she would work towards eliminating corruption in the country.

“Zacc’s role is to act as a means to ensure that Zimbabwe decisively deals with the menace of corruption and that is from a policy level and as well as from an enforcement
level,” she said.

“Zacc is given a mandate to take what I usually call a helicopter view around corruption in terms of the causes and effects and the detection of it as well as superintending and
promoting the prosecution and holding to account in other means by the criminal law as well as the law itself.

“I think the bigger role is to also promote a culture of zero tolerance to corruption in our society.”

Muchengwa said as a former police officer and head of commercial crime at Harare Central Police Station, he will use his background to investigate complex cases and overcome associated hurdles to fight corruption.

BY DESMOND CHINGARANDE

A HARARE magistrate yesterday called to order President Emmerson Mnangagwa’s Anti-Corruption Prosecution unit for its lackadaisical approach to dealing with corruption cases.

Magistrate Nyasha Vhitorini was not amused after special prosecutor Michael Chakandida asked for postponement of the case of former National Social Security Authority (NSSA) general manager Elizabeth Chitiga, who is accused of criminal abuse of office, saying he had just taken over the matter from his colleague.

Vhitorini was irked that on the last remand date, another member of the unit asked for a postponement of the matter on similar grounds.

“Is there a decision to prosecute or it’s a hotchpotch? I reserved this whole week for this case and now you are saying the matter is allocated to a new prosecutor. You are not doing anything in fighting corruption,” the magistrate charged.

“I want you to go and communicate with whoever is assigning you to these cases that it’s bad. You said you need the whole week for the case and I reserved it, now you come again
seeking postponement. If you are not ready, next time I am inclined to remove the accused from remand.”

Chitiga’s lawyer Jonathan Samukange said they had been waiting for the State at the court since morning only to be advised midday that the State had come to seek another postponement.

Vhitorini postponed the matter to July 18 for trial.

Allegations are that in September 2016, NSSA and the National Building Society (NBS) convened a strategic meeting, whose resolutions included to give NBS the mandate to provide
10 000 low-cost housing units countrywide.

But the two institutions failed to build the houses after Chitiga “imposed” other projects, over and above the NBS project, thereby prejudicing NSSA of $31 million.

BY JAIROS SAUNYAMA

POLICE in Marondera have launched a manhunt for six armed men who allegedly pounced on a broken down combine harvester, destroyed its fuel tanks and siphoned about 450 litres of diesel at the 76km peg along the Harare-Mutare Highway.

The suspects, who were brandishing a shotgun, sped off in two cars, an Isuzu truck and an unregistered Honda Fit, after loading the fuel into 20-litre containers.

Mashonaland East provincial police spokesperson Inspector Tendai Mwanza yesterday confirmed the incident.

“I confirm receiving a report on a six-member gang who pounced on a combine harvester that had developed a mechanical fault before stealing 450 litres of diesel. We are appealing to the public, who might have information that may lead to the arrest of the suspects, to approach the nearest police station,” Mwanza said.

According to the police, at around midday on Friday, Tinashe Macheso (27) of Gabaza Farm in Beatrice was driving the combine harvester to Agos Farm in Marondera along the Harare-Mutare Highway.

The machine developed a fault, and he pulled off the road waiting for rescue.

The next morning at around 3am, six men armed with a shotgun approached and asked him to sell them the diesel, but he refused. They threatened to shoot him and asked where the fuel tank was.

The suspects then drilled a hole on the fuel tank and siphoned the diesel putting it into containers.

They loaded the containers into their vehicles and sped off towards Macheke. The value of the stolen diesel was ZW$2 673.

BY TATENDA CHITAGU

SMARTING from a defeat in the Bikita East ward 31 by-election held on Saturday, the Nelson Chamisa-led MDC party has blamed Zanu PF and the State for intimidating voters through the arrest of party deputy chair Job Sikhala and deployment of riot police at the Bikita Magistrates’ Court during his initial remand appearance.

Zanu PF candidate Thomas Matanga garnered 1 112 votes against the MDC Alliance’s Moses Maphosa who polled 410 votes, while Peter Mavenga of the National Constitutional Assembly (NCA) came third with a meagre 23 votes.

The ward fell vacant following the death of Zanu PF councillor Patrick Marozhe in April.

MDC Masvingo provincial chair James Gumbi said the arrest of Sikhala had a knock-on effect on the rural voters, who over the years have been subjected to violence and
intimidation in previous elections.

“Sikhala’s arrest was a way by Zanu PF to instil fear in people (ahead of the) by-election in Bikita. Sikhala, who we feel is innocent, was set as an example to pacify the rural
voters and cow them down,” Gumbi said.

“His arrest had an impact and caused a lot of upset to the voters. Some people may take it lightly, but imagine the people of Bikita seeing riot police armed to the teeth at the
courts?”

But Zanu PF provincial spokesperson Ronald Ndaba said Sikhala’s arrest was not a factor in the ruling party’s victory.

“That is not true. Is Sikhala a voter in Bikita? His arrest was a non-factor. He is a voter in Harare, not in Bikita. We only know him as a person who was arrested and tried in
Bikita,” Ndaba told NewsDay.

BY RUTENDO MATANHIKE

The Zimbabwe Republic Police (ZRP) yesterday urged citizens to desist from taking the law into their own hands by meting out instant justice on crime suspects, saying it had contributed to the spike in murder cases.

National police spokesperson Assistant Commissioner Paul Nyathi in statement yesterday noted with concern the increase in murder cases, which he said could be avoided.

“The ZRP has observed that some cases of murder occurring around the country can be easily avoided. It is really unfortunate that perpetrators of this heinous crime have
completely lost respect for human lives,” Nyathi said.

“The ZRP urges members of the public to respect the sanctity of life and avoid meting instant justice on suspects; instead they must hand over suspects to law enforcement agents
for the law to take its course. Members of the public with mentally-challenged relatives must always monitor them and ensure that they do not cause harm to others while at the
same time they are assisted to seek medical attention.”

Nyathi said the body of a six-year-old female, who was murdered and dumped in a disused shaft at Northampton mine in Gweru, was discovered on 11 July.

In Mbare, a 24-year-old was fatally assaulted by a mob on July 14 for stealing buckets, while a mentally challenged man fatally struck his mother with a brick in Hurungwe on July
11.

BY VENERANDA LANGA

THE Zimbabwe Human Rights Commission (ZHRC) says it has made inroads in ensuring observance of human rights at different problematic institutions such as prisons and refugee camps in the country.

In their latest report, the ZHRC said they visited prisons and during those visits, they found the conditions deplorable, with prisoners complaining that they were being beaten up and also called defamatory names when being berated.

But the ZHRC said after their intervention, the Zimbabwe Prisons and Correctional Service (ZPCS) adhered to their recommendations and were now taking a human rights approach when
dealing with prisoners.

“In 2017, inmates reported torture, beatings and other inhuman and degrading actions by prison officials in violation of section 50 of the Constitution, which provides for the
rights of arrested and detained persons, including the right to be treated humanely and with respect for their inherent dignity,” the ZHRC report said.

“The ZHRC continues to engage with ZPCS to adopt human rights-based approach to the care, protection and discipline of inmates.”

The ZHRC said counselling sessions have since replaced corporal punishment at prisons.

Previously, they said prisoners feared being beaten to death.

The rights institution also claimed that they caused the incarceration of an abusive war veteran who assaulted more than 100 pupils at a primary school in Mashonaland Central.

“The accused, who is 50 years old, assaulted 112 school children at the primary school in ward 12 Mt Darwin for inscribing some toilets at the school with political messages. It
was proven that the accused gave all Grade 6 and 7 pupils two lashes and told them not to write on the walls of toilets again. This happened at assembly in full view of staff
members,” the ZHRC said.

They said the Constitution outlaws corporal punishment and the ZHRC concluded that the rights of children were violated and the case was taken to court, resulting in the war
veteran being sentenced to 36 months, which was suspended subject to good behaviour.

On the welfare of refugees, the ZHRC said there was steady progress in enforcing the rights of refugees after Tongogara Refugee Camp in Chipinge took on board their
recommendations.

They said when they visited Tongogara Refugee Camp in 2017, then the number of refugees was 10 000, comprising people mostly from Burundi, Rwanda, Mozambique and the Democratic
Republic of Congo.

“ZHRC found that most refugees from Mozambique, who had migrated to Tongogara in 2016, were housed in tents as they were still to be allocated land to build their housing units,”
the report said. “However, in 2019, there has been steady progress towards the provision of decent accommodation and houses have been constructed for the Mozambicans.”

The ZHRC said the number of refugees has since increased to more than 12 000.

They said during their follow-up visit, they found two blocks comprising four classrooms built and the number of pupils at Tongogara Primary School having increased from 1 700 to
2 300 in 2019. The ZHRC said a police station was built at the camp after their instigation to curb crime. They also said basic services such as access to clean water and
construction of toilets had improved at the camp.

BY NIZBERT MOYO

BULAWAYO mayor Solomon Mguni yesterday denied claims he was on leave last week when town clerk Christopher Dube was suspended by his deputy, Tinashe Kambarami.

Kambarami and other councillors last week suspended Dube without pay.

However, Mguni, who was reported to be on study leave in South Africa, lifted the suspension.

Mguni yesterday told Southern Eye that he was surprised to hear reports that he was on leave. He said he was only officially absent from work for two days.

“First, there was no vacancy in the office of the mayor. I was not on council leave as there was no certificate issued according the Urban Councils’ Act. I was only absent for
two days. The whole thing was not done procedurally. The town clerk is at work today,” Mguni said.

“We cannot just dismiss the deputy mayor’s allegations against the town clerk, the same way we cannot make a decision without the town clerk responding to those allegations.

Every citizen has a constitutional right to a fair hearing. The town clerk is at work today.”

On the issue of reports that councillors were plotting to pass a vote of no confidence on him, Mguni said he was waiting for them, adding he could not be suspended by them, but
by the minister.

Following the alleged ejection from office of Dube by councillors, some Bulawayo residents protested at City Hall on Friday, demanding that the suspension be removed. Residents
also clamoured for removal from office of the deputy mayor and councillors at the centre of the controversy.

Councillors Kambarami and Silas Chigora were arrested on Friday in connection with the suspension of the town clerk. They appeared in court on Saturday.

There was a heavy police presence yesterday at Large City Hall as police anticipated violence following the suspension of the town clerk.

Acting Bulawayo police spokesperson Inspector Abednico Ncube said police were at the City Hall to maintain peace and order.

“They were just there to maintain peace,’’ he said.