ZSE shares rally as Industrials races past 200 mark

Published: 10 June 2013

ZSE shares rallied in midweek trades with Industrials closing above the 200.00 mark for the first time since January but daily turnover stayed below the psychological $1 million level.

Volumes in the market's top 2 counters Delta and Econet were below $100 000 with the most meaningful trades of the day coming from CBZ, Innscor and Lafarge.

Total market turnover improved to $757 480 against yesterday's $459152 with substantial trades in Innscor ($268 275), Lafarge ($181 873) and CBZ ($138 166).

Total volumes traded on the market improved slightly to 3.843 million shares from 2.828 million shares recorded yesterday with a significant 1 million shares changing hands in CBZ.

The Industrials Index gaining a significant 5.43 points or 33.33% to close at 200.72 buoyed by gains in heavyweight counters Econet, Innscor, Delta and OK Zimbabwe. The mainstream index is now 31.71% up since January 1.

Econet added 4c or 5.88% to 72c ahead of its February finals expected anytime soon whilst Delta closed at best level in 52 weeks at 135.01c after gaining 5c or 3.85% ahead of its finals and analysts briefing next Wednesday.

Another blue chip counter OK Zimbabwe advanced 1.39c to another all-time high of 23.4c.

Innscor recorded a marginal 0.02% increase to 91.03c whilst its subsidiary Natfoods closed 10c or 4.55% firmer at 230c.

The Minings Index gained 1.28 or 1.78% to 73.26 points with RloZim and Bindura adding 1 c and 0.10c each to trade at 46c and 3 c respectively.

Hwange closed buyers and sellers only at 14c and 15c amid reports that a Swedish firm has filed a High Court lawsuit against the coal-mining firm for filing to pay a 2006 debt.

Top gainer on the day was Willdale gaining 0.02c or 33.33% to 0.08c. PG Industries added 0.20c or 25% to 1c and CF1 closed 20% firmer at 6c.

Zimplow Holdings recorded a 19.05% increase of 0.80c to 5c while the last of the top 5 gainers African Sun advanced 0.17c or 12.59% to 1.52c.

Bankers CBZ and FBC added 0.30c and 0.20c each to 13.8c and 8c respectively. Aico Africa traded 12.50% higher at 9c and construction firm Masimba gained 0.19c or 3.95% to 5c.

ZHL added 1 % to 1.01 c and clothing retailer Edgars gained 1.58% to 12.2c.

Pearl Properties closed buyers only at 2.8c after reports that the firm has partnered Harare City to construct a $50 million upmarket bus terminus, shopping mall, a parking lot and office blocks at the Fourth Street bus rank.

NicozDIamond led the top fallers dropping 0.10c or 7.14% to 1.30c. Star Africa closed at 1.40c after shedding 0.10c or 6.67%.

Cement manufacturers PPC and Lafarge were also amongst the top losers on the market easing 15c and 5c each to 235c and 85c respectively.

The Datvest All Share Index added a significant 3.85 points or 2.89% to 137.26 while the FBC ZSE-10 Index was 3.45% firmer at 145.81.

Another rally in OK Zimbabwe saw the Truworths Retail Index extend gains to rise by 5.43% at 312.93 taking its year to date gains to 55.26%.

The Tourism Index was 4.19% firmer at 20.46 following gains in African Sun.
- zfn