ZSE Industrials ends week firmer

Published: 01 November 2013

Industrials dosed the first session of November firmer propelled by gains in the market's top counters Delta and Econet canceling out losses in BAT but volumes ended weak with daily market turnover closing below the psychological $1 million level at $815 104.

The Industrials Index gained 0.12 points or 0.06% to 209.86 with Delta and Econet trading in the positive while Innscor and OK Zimbabwe remained stable.

The Minings Index eased 2.39 points or 4.54% to 50.29 as Bindura eased 0.05c or 2.5% to 1.95c while RioZim traded unchanged at 30c.

Week on week the Industrials Index managed to scratch out a modest 0.05% gain while the resources index is up 5.92% on last Friday.

Blue-chip Delta gained 0.99c or 0.73% to 136c while telecoms giant Econet added 0.60c or 0.99% to 61.1c.

Other heavyweight counters Innscor and OK Zimbabwe traded unchanged at 83c and 23c respectively.

BAT led the top fellers on the day, shedding 49c or 4.09% to 1150c while Lafarge eased 0.50c or 0.43% to 115c.

Daily market turnover dropped to $815104 on a volume of 2.955 million shares against yesterday's $1.428 million on a volume of 5.308 million shares.

Weekly market turnover improved to $6,454 million on a volume of 138.65 million shares compared to last Friday's $5.09 million on a volume of 45.77 million shares.

Masimba led the top risers on the board, advancing 0.57c or 10.18% to 6.17c while Aico Africa added 0.10c or 2.44% to 4.2c.

African Sun gained 0.01 c or 0.36% to 2.82c in the wake of reports that nearly 30 million shares changed hands in African Sun Limited on Monday at 2.6c were actually new shareholders Brainworks completing transactions around the hospitality company.

Seed Co traded unchanged at 99c after shareholders on Wednesday approved a $60 million deal which will see French based international field and vegetable seed developer Vilmorin & Cie acquire a 25% equity stake in the local company by the end of 2014.

The Zfn board was largely in the positive with the Datvest All Share Index adding 0.30 points or 0.22% to 140.53 while the FBC ZSE-10 Index was 0.39 points or 0.27% firmer at 146.07.

The Mining Index was the only sector to close in the red after easing 0.17 points or 0.91% to 18.94 and remains a massive 37.86% down since January

- zfn