ZSE:- Heavyweights extend gains as Industrials rises again

Published: 10 June 2013

ZSE's heavily capitalised counters conthued to trade higher on Tuesday to spur Industrials to their 3rd consecutive day uptrend.

The Industrials Index added 1.18 points or 0.63% to 188.86 taking their gains this year to date to 23.92% while the Minings Index eased 0.30 points or 0.44% to 68.15 with gains since January easing to just 4.65%.

Volumes remained reasonable with 9.312 million shares worth $2,116 million passing through the market.

Delta added another 1c to 116.01c in deals worth $151 820 while Econet was 0.90c firmer at 77c in trades worth a significant $1.315 million.

Innscor added 1.50c to 94.5c in transactions worth $267 343 after reports that financial analysts at Renaissance Capital have projected the group's revenue to increase by 8% to $345 million in 6 months to December 31,2012.

Dual listed counters Old Mutual and PPC rose 1c and 10c each to 202c and 270c respectively while Meikles remained stable at 24c in significant trades worth $223 634.

SeedCo, which is trading under a profit warning, recovered a significant 8c to 70c while parent Aico Africa remained buyers and sellers at 7c and 8c respectively.

Masimba led the day's fallers alter remarkably losing 0.70c or 28% to 1.8c, its all-time low. OK Zimbabwe lost a modest 0.02c to 20c while NMB was 2c weaker at 9c.

In Minings, RioZim dropped 5c to 45c to cancel out Falgold's 2c rise to 15c.

Truworths was bid and offered higher at 3.7c and 4c respectively after releasing interim results yesterday where management told analysts that group's sales increased by 10.9% to $13.87 million as a result of the improvement in merchandise.

The Datvest All Share Index added 1.06 points or 0.84% to 127.45 while the FBC ZSE-10 Index was 1.61 points or 1.21% higher at 13428.

The Allied Bank Banking Index was 1.06 points or 1.59% weaker at 65.77 weighed down by a loss in NMB.
- zfn