ZSE:- Econet, Innscor snap Industrials extended rally on profit taking

Published: 10 June 2013

ZSE's Industrials fell for the first time in 5 weeks on profit taking in heavly capitalised counters snapping its best rally since dollarisation.

There were only 4 counters to trade lower but Econet's 10c fall to 600c and lnnscor's 3c drop to 100c managed to cancel out gains recorded in 11 other counters.

The Industrials Index dropped 0.21 points or0.11% to 184.54 while the Minings Index remained unchanged at 84.07 as Falgold remained stable at 16c.

Total market turnover however improved to $5,901 million, Is best level so far this year, buoyed by a special bargain of 2 million Delta shares pushed through by brokers IH Securities at 125c.

In normal trades Delta was unchanged at 125c on a volume of over 1.7 million shares resulting in total value of $4,625 million.

Meanwhile, other shares continued to advance to new levels with DZLH adding 1.50c to 25c while Edgars was 1c firmer at its 52-week high of 11c against its all-time high of 15c set on July 22, 2011.

OK Zimbabwe was a modest 0.01c up at 19.11c while strong bidding in Old Mutual and PPC saw the dual-listed counters rising 3.01c and 11c each to close at 184.01 c and 228c respectively.

TSL advanced another 1c to 14.51c in the wake of its upbeat financial results where a dividend of 0.43c was also declared.

Masimba traded for the first time since the change of name from M&R closing 0.19c firmer at 2.99c. Meikles recovered 0.50c to22c while NMB added 0.10c to 1.11c.

Other counters to trade lower were Afdis which eased a marginal 0.01c to 15c and Cafca, down 5c to 55c.

The Datvest All Share Index eased 0.27% to 122.74 while the heavyweight's measure, the FBC ZSE-10 Index was down 0.76% to 127.83.
- zfn