Industrials extends rising streak to 5 straight sessions

Industrials extends rising streak to 5 straight sessions
Published: 23 September 2013
There were just 2 counters to trade lower on Monday as Industrials extended their rising streak to 5 consecutive sessions spurred by gains in Innscor and OK Zimbabwe.

The Industrials Index gained 0.95 points or 0.50% to 192.46 with gains in the year recovering to 26.30%. At its peak this year the mainstream index topped 53.01% in year to date gains on August 1.

Blue-chip and retail counter OK Zimbabwe closed as one of the top five risers on the market adding 1c or 3.65% to 27c while conglomerate Innscor gained 1c or 1.23% to 82c.

Other heavyweights Delta and Econet traded unchanged at 120c and 55.01c respectively.

The Minings Index remained stable at 46.34 points as there were no trades recorded in the mining counters.

There were 10 counters to trade in the positive territory against only 2 that traded in the red out of the 23 counters that traded compared with 13 risers and 6 fallers last Friday.

Daily market turnover improved to $1,676 million on a volume of 14.20 million shares against last Friday's $1,089 million on a volume of 4.460 million shares.

Bankers NMB led the top 5 risers on the day advancing 0.50c or 7.69% to 7c while DZHL added 1c or 5.56% to 19c.

FBC gained 0.60c or 5% to 12.6c while Fidelity Life advanced 0.50c or4.17% to 12.5c. Pearl Properties traded 0.10c or 3.33% firmer at 3.1c.

Other notable risers include dual listed PPC which added 3.94c or 1.67% to 240c and Old Mutual which advanced 3.49c or 1.52% to 233.5c. SeedCo picked up 1.01c or 1.25% to 82.01c.

Star Africa led the fallers on the board shedding 0.10c or 8.33% to 1.1c while bankers Barclays dropped 0.20c or 5.88% to 3.2c.

NTS dosed 2.5c buyers only after chief operating officer Tafadzwa Choto told the AGM on Friday that the company will continue to focus on revenue growth buttressed by volume growth, focused cost management and management of collections.

There were no losers on the Zfn board as the Datvest All Share Index advanced 0.63 points or 0.49% to 128.97 while the FBC ZSE-10 Index was 0.50% better at 133.86.

The Truworths Retail Index added 11.20 points or 3.32% to 348.34 extending the sectors gains h the year to 118.84%. Gains in Old Mutual and PPC helped the Dual Listed Index to rise by 2.79 points or 1.55% to 182.43.

- zfn

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