Industrials extends record run as daily turnover rises

Published: 16 July 2013

Industrials pushed to fresh highs on Tuesday as heavyweight counters Delta, Econet and Innscor extended gains amid rising volumes across the board.

The Industrials Index gained 2.07 points or 0.92% to 226.96 another uncharted territory that takes its gains in the year to 48.92%.

Daily market turnover improved to $5,516 million on a volume of 12.260 million shares with about 9 counters trading volumes of above $100 000 each against yesterday's $1,353 million on a volume of 7.728 million shares.

Delta and Econet gained 2c and 0.02c each to close at 150c and 68.03c respectively. OK Zimbabwe closed buyers and sellers only at 25c and 30c while Hippo closed sellers only at 105c.

One of the top 5 gainers Innscor closed 3.94% firmer at 105c.

The Minings Index remained stable at 69.10 points with Hwange closing unchanged at 17.5c.

Bindura closed buyers and sellers only at 2.5 and 2.6c after publishing a further cautionary announcement saying management of the firm is examining alternative mining plans with the objective of improving the short term cash flow of the company and reducing the funding requirement

The top riser on the market was Zeco, adding 0.04c or 133.33% to 0.07c taking its gains it the year to 600% while DZLH advanced 1.01c or 4.59% to 23.01c.

Willdale and Old Mutual also closed amongst the top 5 gainers, advancing 3.13% and 3% each to 0.33c and 240c respectively.

Afdis closed 1.14% firmer at 35.4c, another record level, in normal trades while brokers Imara pushed through a special bargain of 329 454 shares at 40c.

Agro-industrial counters SeedCo recorded a 1.23% increase of 1c to 82c while Padenga also closed in the green, gaining 0.05c or 0.63% to 8.05c.

Dawn led the top fallers, shedding 0.10c or 10% to 0.9c while another property counter Pearl Properties dropped 0.03c or 0.97% to 3.07c.

Other fallers were Masimba and NicozDiamond which dropped 4% and 1.29% each to 12c and 1.53c respectively. PPC eased 20c or 8% to 230c.

Bankers traded largely on the downside with ABC shedding a marginal 0.01c or 0.02% to 50c while Barclays closed 0.32% weaker at 6.28c. FBC dropped 1c or 7.69% to 12c

Meanwhile, ZSE announced that Apex and Cairns are now off the ZSE official list. This brings to 69 the number of counters on the official list as of today against 78 in January.

The Datvest All Share Index was 1.03 points or 0.68% firmer at 151.41 taking the benchmark index's gains in the year to 69.36%.

The FBC ZSE-10 Index added 1.69 points or 1.08% to 157.77 and has done 87.53% since January.

There were only 3 sectors trading in the red with the Property Index dropping 2.39 points or 2.04% to 114.62 largely on losses in Dawn and Pearl Properties
- zfn