ZSE heavyweights lead Industrials resurgence

ZSE heavyweights lead Industrials resurgence
Published: 09 September 2013
Industrials maintained the upward trend on Monday buoyed by the positive performance of the market's blue-chips Delta, Econet and Innscor.

Buyers scrambled for shares in the top 3 counters although sustainability of the market's resurgence remains an issue.

The Industrials Index recovered another 3.06 points or 1.68% to close at 184.82 points while the Minings Index remained flat at 46.78 points as no activity was recorded in the sector.

There were only 15 counters to record trades with 3 closing in the positive while only 2 counters traded in the negative territory and the rest unchanged from previous positions.

Daily market turnover improved slightly to $924 553 on a volume of 4.093 million shares from last Friday's $912 717 on a volume of 3.056 million shares.

Delta shares led the heavyweight's resurgence after adding a significant 6.11% or 6.91c to 120.01c and remained buyers at the same price.

Telecoms counter Econet added 0.51c to trade at 50.01c with buyers still looking at the same price with no sellers on the board.

Innscor which released June finals last week moved up 0.97c to 81c as sellers moved their offer to 82c.

On the downside BAT lost a further 60c to trade at 900c and closed sellers at 950c while TSL eased 1.5c to close at 27c.

First Mutual Holdings and Pearl Properties closed buyers and sellers only at 12c and 14c and 2.9c and 3.1c respectively ahead of their interims and analysts briefings this afternoon.

Bindura, Falgold, Hwange and RioZim maintained previous trading levels.

There were only 3 sectors to record gains on the Zfn board with the Datvest All Share Index rising 1.91 points or 1.58% to 123.34 whilst the heavyweights' measure, the FBC ZSE-10 Index added 2.79 points or 2.24% to 12722.

The Manufacturing Index added a significant 7.89 points or 3.62% to 22624 largely on gains in Delta.
- zfn
Tags: ZSE, Industrials,

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