ZSE daily turnover rises to $6.388 million

Published: 27 September 2013

A special deal of 5 million Delta shares pushed through at 120c by brokers Imara highlighted trading on the ZSE on Friday and drove the daily market turnover to $6,388 million, its best September as Industrials extended winning streak to 9 straight sessions.

The Industrials Index went up a further 1.31 points or 0.67% to 197.97 points largely on gains recorded in Delta whilst other heavyweights Econet, Innscor and OK Zimbabwe remained stable.

In normal trades Delta added 2.51c to 122.51c while telecoms giant, Econet closed unchanged at 62c amid reports that the group has developed a weather-indexed drought insurance cover lor smallholder farmers allowing farmers to make a financial claim if their crops fail because of either inadequate or excessive rainfall.

Other blue chips Innscor and OK Zimbabwe remained stable at 82c and 27c respectively.

The Minings Index closed unchanged at 49.90 with Bindura trading stable at 2c.

Daily market turnover significantly improved to $6,387 million on a volume of 9.641 million shares compared with yesterday's turnover of $4,056 million.

Weekly turnover also more than doubled to $14.75 million on a volume of 41.376 million shares against last Friday's $6,797 million on a volume of 29.70 million shares.

Masimba led the top risers after recovering 0.60c or 17.14% to 4.1c as group CEO Canada Malunga told an analyst briefing yesterday that the firm is engaging the government on products movement in the region as they are facing stiff competition from cheap imports thus affecting the manufacturing operations of the business.

Zimplow Holdings and Barclays advanced 11.11% and 6.25% each to 5c and 3.4c respectively. Meanwhile, Pearl Properties gained 0.15c or 4.84% to 3.25c and Aico Africa closed 3.33% firmer at 3.1c.

Other counters to trade in the green were cigarette manufacturer BAT and African Sun which rose 2.68% and 2.50% each to 1150c and 2.05c respectively.

ZPI added a marginal 0.01c or 0.91% to 1 11c.

Padenga closed buyers only at 6c after CE Gary Sharp told an analyst briefing that the group will focus on increasing throughput at the skinning service plant and the meat plant while sale of alligator skins will more than double in 2014 after recording a 28% decrease in revenue for the 12 months ending 30 June 2013.

Radar closed sellers only at 10c ahead of their finals and analysts briefing this afternoon.

The top faller on the day was bankers FBC, shedding 16.61% to 12.1c. Interfresh and Fidelity Life eased 10% and 8% each to close at 1.8c and 11.5c respectively.

SeedCo traded 1.20% weaker at 82c. CBZ also traded on the downside, dropping a modest 0.14% to 15c after announcing an offer to shareholders with shareholding not exceeding 5 000 shares to participate in a Nil Cost Dealing Facility from October 1 to December 1.

Star Africa remained stable at 1.2c after publishing an update on the scheme of arrangement saying negotiations with prospective purchasers of the group's investments in Tongaat Hulett Botswana and Bluestar Logistics are in progress and hoping to conclude both disposal transactions by November 30.

The Datvest All Share Index advanced 0.72 points or 0.54% to 133.22 while the FBC ZSE-10 Index was 1.14 points or 0.82% firmer at 139.19.
- zfn