ZSE Industrials snaps 10-day losing streak

Published: 03 July 2013

A recovery in the heavily capitalised counters Delta, Innscor and OK Zimbabwe largely helped the Industrials to snap a 10-day losing streak while Minings stayed in the red on losses in Hwange.

The Industrials Index gained 2.01 points or 0.96% to 21120 as buyers resurfaced in heavyweights Delta, Innscor and OK Zimbabwe.

Blue chips Delta, Innscor and OK Zimbabwe traded in the green adding 1.45%, 0.01% and 5.55% each to 140c, 92.01c and 23.22c respectively.

Econet remained stable at 64c after withdrawing its $12 million lawsuit against its competitor NetOne as the two parties were in discussions for an out-of-court settlement.

The Minings Index eased 1.83 or 2.54% to 70.12 points Hwange closed as one of the top 5 losers dropping 1.50c or 8.57% to 16c.

Daly market turnover improved significantly to $1,249 million on a volume of 8.987 million shares against yesterday's $670 886 on a volume of 6.134 million shares.

The top riser on the market was Hunyani, advancing 1.50c or 60% to 4c followed by GB Holdings which closed 40% firmer at 0.07c taking its gains in the year to 600%.

Other risers on the day were African Sun which added 0.20c or 10% to 2.20c and CFi closing 7.69% firmer at 7c.

Bankers Barclays recovered 0.21c or 4.88% to 4.51c and CBZ was 1.48% up at 13.70c. NicozDiamond and ZPI advanced 0.01c and 0.05c each to 1.51 c and 1.2c respectively.

Aico Africa advanced 0.10c or 1.54% to 6.60c amid reports that the group secured a European investor who will invest $20 million into one of its subsidiaries Olivine Industries.

Turnall led the top fallers, easing 0.50c or 9.09% to 5c while Star Africa dropped 0.10c or 7.14% to 1.3c. Old Mutual dosed 1.87% weaker at 210c and Zimplow Holdings dropped 0.01 c or 0.20% to 5c.

The Zfn board was largely in the positive with only 2 sectors the Dual Listed Index and the Mining Index managing to close in the red.

The Datvest All Share Index recovered 1.06 points or 0.76% to 141.57 while the blue chips measure, the FBC ZSE-10 Index added 1.17 points or 0.81% to 146.68.
- zfn