Industrials extends recovery streak

Published: 24 September 2013

There was not a single counter to trade lower on the ZSE on Tuesday as Industrials extended their recovery streak to 6th straight session in largely quarter end price ramping.

The Industrials Index gained 226 points or 1.17% to 194.74 buoyed by gains in heavyweights Econet and Innscor as a total 15 counters traded in the green while no counter traded on the downside out of the 25 that traded.

Volumes were thin with the total daily turnover closing below the psychological $1 million mark at $664 337 on a volume of 3.488 million shares against yesterday's $1.676 million on a volume of 14.20 million shares.

Telecoms giant Econet gained 2.49c or 4.53% to 57.5c whie conglomerate Innscor added a marginal 0.01c or 0.01% to 82.01c.

Other blue chips Delta and OK Zimbabwe traded unchanged at 120c arid 27c respectively. The Minings Index remained stable at 48.34 points as Bindura traded unchanged at 2c.

TA Holdings led the top risers on the board advancing 2c or 33.33% to 8c while NicazDiamond picked up 0.50c or 25% to 2.5c. Cafca gained 5c or 15.67% to 35c and FBC added 15.16% to 14.51c. Turnall was the last top 5 riser on the day gaining 0.50c or 10% to 5.50c.

Other counters to trade on the positive were African Sun, CBZ and DZLH which advanced 5%, 4% and 6.32% each to 2.1c, 13c and 20.2c respectively.

FML closed 1.54% firmer at 13.2c while Old Mutual added 2.61 c or 1.12% to 236.11 c. Powers peed added 5.56% to 1.9c and Zimplow Holdings gained 6.67% to 4c. ZPI recorded an increase of 4.76% to 1.1 c.

Dawn closed buyers only at 1c ahead of its AGM tomorrow whilst Masimba closed sellers only at 6c ahead of its finals and analysts briefing on Thursday.

The Datvest All Share Index added 1.80 points or 1.40% to 130.77 as its gains this year to date reoovered to 46.27% while the heavyweights measure, the FBC ZSE-10 Index was 1.38 points or 1.03% firmer at 135.24 and is now 60.75% up since January.

Gains in First Mutual and NicozDiamond helped the Insurance Index to rise by 5.89 points or 4.38% to 140.39 while bankers CBZ and FBC helped the Allied Bank Banking Index add 2.74 points or 3.63% to 78.15.
- zfn

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