Industrials extend gains as daily turnover rises

Published: 05 November 2013

ZSE shares closed in the positive territory on Tuesday with the mainstream Industrials extending gains as risers outnumbered fallers by 9 to 5 across the main board while volumes improved on significant deals in Econet.

Daily market turnover significantly improved to $3,403 million on a volume of 13.237million shares with Econet trading in transactions worth $3,905 million. Yesterday's turnover was $2,106 million on a volume of 4.465 million shares.

The Industrials Index gained a modest 0.04points or 0.02% to 210.27 as heavyweights Delta, Econet and Innscor closed unchanged.

Blue chips Delta, Econet and Innscor all remained stable at 136c, 63c and 83c respectively while heavyweight retailer OK Zimbabwe closed sellers only at 26c.

The Minings Index also gained 0.59 or 1.18% buoyed by gains in RioZim which closed amongst the top 5 risers, recording an increase of 1.50c or 5% to 31.5c. Meanwhile, Hwange traded unchanged at 14c.

MedTech led the top risers on the day, adding 0.01c or 25% to 0.05c while Aico Africa gained 19.05% to 5c as its associate Seedco closed unchanged at 99c ahead of their interims and analysts briefing tomorrow.

Other gainers were NTS and ZPI which advanced 11.67% and 9.09% each to 3.35c and 12c respectively. Astra added 0.20c or 4.1 /% to 5c while bankers Barclays closed 2.50% firmer at 4.1c.

Masimba added a marginal 0.03c or 0.49% to 6.2c and Old Mutual gained 1.10c or 0.43% to 257.1c.

The top loser was Star Africa which dropped 0.30c or 16.67% to 1.5c while TSL eased 2.10c or 5.98% to 33c. Powerspeed traded 526% weaker at 1.8c.

African Sun and CFI dropped 0.35% and 0.28% each to 2.81 c and 3.6c respectively.

The Zfn board closed largely in the positive with the Datvest All Share Index adding 0.04 points or 0.03% to 141.26 while the FBC ZSE-10 Index was a modest 0.01 % up at 147.10.

The Conglomerates Index however dropped 0.99 points or 1.34% to 72.99 dragged by losses in CFI, Star Africa and TSL. The Tourism Index was also 0.17% weaker at 27.92 as African Sun closed a modest 0.01c weaker at 2.81c.
- zfn