Industrials rises back into record territory

Published: 26 July 2013

ZSE's Industrials marched back into record territory on Friday as buyers resurfaced in blue chip Delta and a few selected counters ahead of elections next Wednesday.

The Industrials Index added 3.08 points or 1.35% to 230.56 taking its gains in the year past the 50% mark at 51.30%.

The Minings Index however dropped 0.78 points pr 1.18% to 65.55 on losses in RioZim trimming its gains since January to just 0.66%.

Daily market turnover eased to $876 436 on a volume of 15.694 million shares from yesterday's $1.688 million on a volume of 11.24 million shares.

Weekly market turnover eased to $5,365 million on a volume of 15.694 million shares from last week's $21.41 million on a volume of 136222 million shares.

Heavyweight Delta recovered 4c to 147c albeit in thin trades worth just $18 000 amid strong bidding across the floor. Buyers were still looking at the same price while sellers were stuck at 150c.

Other notable risers across the board were cement manufacturer Lafarge which added a significant 20c to 135c, another all-time high. This takes Lafarge's market cap to $108 million.

Meikles was also 0.50c firmer at 32c while Powers peed advanced 0.25c to 2.15c in significant volumes worth $206 270.

First Mutual which changed its name from Afre on Tuesday added 0.50c to 14c while hotelier RTG led the day's risers after adding 0.28c or 22.95% to 1.5c.

DZLH added another 1c to 26c while clothing retailer Edgars added 0.10c to 13.2c. Star Africa was a modest 0.01c better at 1.11c.

Aico Africa recovered 0.40c to 7.01c while subsidiary SeedCo added 1c to 82c.

There were only 5 fallers on the day with RioZim leading the pack after dropping 2c to 38c and while tourism counter African Sun eased 0.10c to 2c.

Fidelity Life lost 0.50c to 12.5c after MD Simon Chapereka told Tin that the Fidelity Southview Park development permit has been issued and ground breaking ceremony will be held soon. Tender invitations were being finalized and will be issued soon. It is anticipated that the development at the site wil start in October 2013.

Also trading weaker was TA Holdings 0.20c down to 7.8c and Zimplow Holdings which lost 0.10c to 5c.

The Mining Index was the only sector to record losses on the Zfn board after dropping 0.31 points or 1.15% to 26.43.

The benchmark Datvest All Share Index added 1.89 points or 1.24% to 153.72 while the blue chips measure was 1.65 points or 1.05% firmer at 158.95.

The Tourism Index was the best performing sector after adding 2.57 points or 10.94% to 26.06 as gains in RTG outweighed losses in African Sun.
- zfn