ZSE market report:- Innscor, SeedCo lifts Industrials as turnover dips

Published: 10 June 2013

Gains in Innscor and SeedCo helped the Industrials manage gains for the third time this year as total market turnover dropped to its lowest level so far in 2013 at $194 610.

The Industrials Index added 0.27 points or 0.18% to 151.10 while the Minings Index was 0.25 points or 0.38% firmer at 66.62.

Overall trading activity was subdued with total transaction value dropping to $194 610 on 731 216 shares from last Friday's $3.312 million on a volume of 4.188 million shares.

Innscor shares continued to firm adding a further 1.49c to 74.5c taking the conglomerate's market cap to $402.4 million surpassing the Zfn target of $400 million. Buyers were still looking at 74.5c with no sellers on the board.

SeedCo added 3c to 80c while another conglomerate Meikles gained 0.11c to 15.11c. Cafca was the day's top riser after adding 5c on its year to date lowest level of 40c to cbse at 45c.

Hwange added 1c to 18c and managed to cancel out losses in Bindura down 0.10c at 1.4c and RioZim which eased 020c to 55c resulting in the Minings Index closing in the positive territory.

There were only 4 counters to trade in the negative territory with PG Industries leading the pack with a 20% drop to 0.4c. Tractive eased 0.50c to 9.5c ahead of Zimplow EGM to approve acquisition of balance of Tractive Power's shareholding next week Tuesday.

The benchmark Datvest All Share Index advanced 0.34% to 100.93 while the heavyweight's measure, the FBC ZSE-10 Index was 0.43% firmer at 102.22 following gains in Innscor and SeedCo.
- zfn

Tags: SeedCo,