ZSE shares advance in midweek trades

ZSE shares advance in midweek trades
Published: 04 June 2014
ZSE shares stayed in the positive territory in midweek trades Wednesday with the breadth of the market looking strong as 11 counters recorded gains against just 2 fellers.

The Industrial Index gained 0.53points or 0.30% to close at 176.63 propelled by gains in heavyweights Innscor, OK Zimbabwe and Econet.

Conglomerate Innscor added 0.70c or 0.97% to trade at 72.7c after reports that the firm's bread unit, Bakers Inn, will commit $24 million towards installation of 4 additional bread productions lines by 2018 at its Harare Graniteside plant. Meanwhile, Innscor's associate Colcom was the top loser, easing 0.30c or 1.35% to 22c.

Heavyweight retailer OK Zimbabwe was up 0.05c or 4.17% to 18.1c ahead of its finals and analyst presentation tomorrow while Econet stayed in the top 5 risers after advancing 0.99c or 1.48% to trade at 68.02c and bankers CBZ pushed up a cent to settle at 15c.

Blue chip Delta was one of the two counters that closed on the downside, shedding 0.31 c or 0.26% to 116.99c as its associate Afdis led the top risers on the market adding 2c or 6.67% to 32c.

The Minings Index recovered 0.18points or 0.54% to 33.72 after gains in Bindura which added 0.02c or 0.91% to 2.22c.

The daily outturn retreated to $572 226 on a volume of 2.242 million shares against yesterday's $1.300 million on 8.176 million shares.

Other risers, Nicoz Diamond added 0.05c or 4.17% to 1.25c whilst cement manufacturer PPC pushed up 3c or 1.43% to 213c.

Clotting retailer Edgars gained 0.20c or 1.67% to trade at 12.2c. CFI was up 0.01 c or 0.45% to 2.22c and Meikies advanced 0.01 or 0.06% to 18c.

Lafarge closed buyers and sellers only at 65 and 90 respectively amid reports that the cement manufacturer is expected to increase to 500 000 tonnes per annum once current plant upgrade is complete.

The Zfn board was largely in the positive with 8 indices managing gains while only 2 ended in the negative and the other 2 stayed unchanged at previous levels.

The Datvest All Share Index advanced 0.49 points or 0.40% to 122.92 while the FBC ZSE-10 Index closed 0.565 points or 0.43% up at 129.09. 
- zfn

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