Industrials little changed as activity slowed ahead of Workers Day holiday

Published: 10 June 2013
ZSE's Industrials were little changed on Tuesday, the last day of the month, as activity slowed ahead of Workers Day holiday tomorrow.

Gains in heavyweight counters ABC, Econet, Innscor, OK Zimbabwe and Old Mutual managed to cancel out significant losses in Meikles and Natfoods resulting in the Industrials Index adding a modest 0.02 points or 0.01% at 189.66.

The Minings Index remained stable at 71.98 as no activity was recorded in the sector.

RioZim closed buyers and sellers only at 45c and 55c respectively after reports that the group is planning to unbundle its operations to form stand-alone "industry-focused companies" in an effort to attract investment into specific mining activities that match the preferences of a diverse spectrum of investors.

Turnover dropped to below the psychological $1 million level to close at $739 200 on a volume of 3.370 million shares compared with yesterday's $1,775 million on a volume of 6.370 million shares.

Bankers ABC added 5c or 9.09% to its year high level of 60c to take its market cap to $139.7 million from $128 million yesterday. A significant volume of shares worth $224 897 transacted in ABC.

Telecoms counter Econet added 0.12c to 61.12c ahead of its February finals expected anytime soon. Innscor picked up a modest 0.02c to 86.02c.

Retail counter OK Zimbabwe added 0.11c to 19.14c while clothing retail counter Edgars was 0.10c weaker at 12c. Aico Africa added 0.50c to 8c.

Dual listed counters Old Mutual added 5c to 230c in deals worth $326 380 while PPC price rallied 30c or 13.64% to 250c to lead the day's top risers albeit in paltry volume.

On the downside Tumall led the falling counters on the day after losing 0.50c to 4c. Afre which has enjoyed a fine run in the month of April eased 0.50c to 10.5c on the dosing day of the month.

Conglomerate Meikles eased 0.80c to 23.2c while Natfoods dropped 10c to end the month at 220c from a peak of 230c.

The Datvest All Share Index added 0.27 points or 0.21% to 128.96 while the heavyweights' measure the FBC ZSE-10 Index was 0.26% up at 134.82.

Gains in dual listed counters helped the Dual Listed Index to gain a significant 4.64% at 181.98 while ABC's 9.09% rise saw the Allied Bank Banking Index rise 3% to 74.54.
- zfn
Tags: Industrials, ZSE,


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