Industrials logs 10th straight rise

Industrials logs 10th straight rise
Published: 06 June 2014
ZSE shares maintained upward momentum on Thursday with Industrials logging its 10th straight rise largely on modest gains recorded in a few selected heavy weights.

The Industrials Index gained 0.41 points or 0.23% to 177.04 with marginal gains recorded by Delta, Econet and Innscor.

Blue chip Delta added 0.01% to 117c while its associate Afdis gained 0.10c or 0.31% to 32.1c. Econet also recorded a modest 0.19% to 68.15c and Innscor advanced 0.36c or 0.50% to 73.06c.

Heavyweight retailer OK Zimbabwe traded unchanged at 18.1 c ahead of its finals and analysts this afternoon at 4pm, OK Mart Functions Room, 30 Chiremba Road, Hillside.

The Minings Index gained a significant 4.07 or 12.07% to 37.79 as RioZim led the top risers on the market adding 4c or 26.67% to 19c followed by Bindura which picked 0.28c or 12.61% to 2.5c.

Hwange closed buyers only at 4.5c amid reports that the government has given notice that it wil move a motion to remove all board members of the coal mining firm at the annual general meeting which has been set for June 30.

There was a significant improvement in the daily market turnover to $1.116 million on 7.280 million shares from yesterday's $572 226 on a volume of 2.242 million shares.

Other risers were Dawn and Meikles which advanced 5.56% and 2.78% each to 0.95c and 18.5c respectively. Padenga added 0.15c or 1.84% to 8.3c and cement manufacturer PPC gained 0.09% to 212c.

The top loser on the day was Art which eased 0.10c or 25% to 0.3c while Turnall dropped 0.25c or 12.50% to 1.75c and FML closed 7.14% weaker at 6.5c.

Another counter to trade on the downside was ZPI, shedding 0.02c or 2.44% to 0.8c.

The Datvest All Share Index advanced 0.22 points or 0.18% to 123.14 while the FBC ZSE-10 Index added 0.13 points or 0.10% to 12923.

There were only 2 indices to close in the red on the Zfh board with the Insurance Index shedding 3.11 points or 3.94% to 75.99 and the Manufacturing Index easing 0.16 points or 0.07% to 221.05. 
- zfn

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