ZSE: Industrials hits fresh all-time high in midweek trades

Published: 10 June 2013

ZSE's Industrials closed at a fresh all-time high of 205.71 on Wednesday as investors continue to pile into a few selected counters.

The Industrials Index gained 0.99 points or 0.48% to 205.71, an all-time high buoyed by gains in OK Zimbabwe, Hippo and Econet. The Industrials have done 34.98% since January.

OK Zimbabwe was among the top 5 risers on the market advancing 2c or 8% to its all-time high of 27c and Hippo also traded in the green adding 3c or 2.68% to 115c.

Econet added a marginal 0.04c or 0.06% to 70c whilst Innscor traded unchanged at 93c. Delta dropped 0.99c or 0.73% to 135c ahead of its finals and analysts briefing this afternoon.

The Minings Index also gained 0.43 or 0.59% to 73.67 points with a change in the bid for RioZim to 49c against yesterday's buyers and sellers at 47c and 50c respectively. However, Bindura eased 0.04c or 1.33% to 2.96c.

Total market turnover significantly improved to $2.68 million on a volume of 6.864 million shares buoyed by a special bargain of 400 000 Natfoods shares at 260c, against yesterday's $726 226 on a volume of 4.92 million shares.

Phoenix and Pioneer closed as the top gainers on the day, adding 66.67% each to 0.5c and 2.5c respectively.

Afre recorded an 8.99% increase of 0.99c to 12c after announcing plans to re-brand to First Mutual Holdings Limited in order to boost its visibility on the market

Other risers were Old Mutual and Padenga which gained 2c and 0.10c each to 242c and 5c respectively. Ariston traded 0.77% higher at 1.31c and cement manufacturer PPC added 2c or 0.74% to 272c.

Aico Africa closed buyers and sellers only at 8c and 9c after renewing its cautionary statement saying the directors are contemplating a series of transactions to enhance shareholder value.

Top loser on the market was GB Holdings which dropped 0.01c or 50% to 0.01c. Astra closed 10.91% weaker at 4.9c.

The Datvest All Share Index added 0.52 points or 0.38% to 140.11 while the FBC ZSE-10 Index advanced 0.58 points or 0.39% to 148.80.

The Truworths Retain Index was the top performing sector on the day after adding a significant 22.51 points or 6.70% to 356.98. The retail sector remains the best performing this year to date having done 77.12% so far.

Gains in Afre helped the Insurance Index to rise by 6.17 points or 5.34% to 121.64 taking its gains since January to 49.33%.
- zfn