Industrials rebounds to another record level

Published: 19 July 2013

ZSE's Industrials were back to record levels on Friday as gains in selected counters managed to outweigh Delta's losses amid significant volumes.

Daily market turnover eased to $3,487 million on a volume of 7.555 million shares compared with yesterday's $7.816 million on a volume of 91.943 million shares.

This week's daily turnover average improved to $4,480 million buoyed by significant deals throughout the week from last week's $1,790 million.

Weekly market turnover improved to $21.41 million on a volume of 136.222 million shares from last week's $8,949 million on a volume of 88.17 million shares.

The Industrials Index added 2.66 points or 1.19% to 227.03 another record level that takes its gains in the year to 48.97%.

The Minings Index remained stable at 66.93 as the only counter to trade in the sector Hwange traded unchanged at 17.5c.

Conglomerate Innscor added 4.01c to set another record at 110.01c in deals worth $293 639 and looked strong with buyers still looking at 110c. Associate company Natfoods recovered 20c to 240c in normal trades while brokers Imara pushed through a special bargain of 685 985 Natfoods shares at 260c.

Lafarge led the day's risers after adding a significant 15c to 120c, an all-time high while cigarette manufacturer BAT added another $1,02 to another record high of $14,02 taking its year to date gains to 289.4% and its market cap to $289.3 million against Zfn's target value of just $100 million.

Barclays recovered 0.21 c to 6.41c in significant trades worth $157 901. GB Holdings added a modest 0.01 c to 0.09c taking its gains in the year to 800%.

OK Zimbabwe added 0.87c to 27.87c as CEO Willard Zireva told the AGM this morning that the first quarter revenue of $123.1 million which was up 5.1% over same period was slightly below their budget.

Another conglomerate TSL added 2c to another all-time best of 32c in deals worth $352 716. Hippo was 1c firmer at 105c while DZLH added a modest 10c to23.1 c.

Also trading on the up side Aico Africa added 0.50c to 6.5c on media reports that (he group is set to dispose of a 20% shareholding in SeedCo to a United Kingdom seed company, Limagrain and the money realised from the transactions would be used to finance some of the group's operations.

On the down side Delta eased another 1c to 144c and remained weak with sellers still selling at the same price while buyers came down to 143c.

Another blue chip Econet remained stable at 66.5c in deals worth $479 331 but closed weak with sellers at 67c and no buyers on the board.

Interfresh dropped 0.02c to 0.18c while Star Africa was 0.20c weaker at 1c as shareholders approved the disposal of its 33% stake in Tongaat Hulett Botswana and disposal of its Blue Star Logistics business.

There was not a single sector to close in the red on the Zfn board with the Datvest All Share Index recovering 1.94 points or 1.30% to 151.51 while the FBC ZSE-10 Index was 1.81 points or 1.17% better at 156.61.

The Conglomerates were the top performing sector adding 3.09 points or 3.52% to 90.98 buoyed by gains in Innscor and TSL.
- zfn