Industrials climb back above the 200 mark

Industrials climb back above the 200 mark
Published: 30 September 2013
ZSE shares opened the week and ended the 3rd quarter in the positive territory as the Industrials closed back above the 200 mark steered by gains in heavyweights Delta and Econet.

Volumes across the board were however paltry as 11 counters managed to trade in the positive against only 2 that ended in the red out of the 18 that recorded trades on the last day of the third quarter.

The Industrials Index gained 2.08 points or 1.05% to 200.05 taking its gains in the year to 3127% but the mainstream index is however 14.21% down from its all-time best level reached on August 1.

Delta advanced 1.50c or 1.22% to 124.01c but is still 21.01% down from its best level of 157c while Econet closed 1.61% firmer at 63c.

Heavyweights, Innscor and OK Zimbabwe closed unchanged at 82c and 27c respectively.

The Minings Index gained 0.39 or 0.78% to 50.29 as the top riser of the day RioZim added 4.99c or 19.18% to 31c. Meanwhile, Hwange closed buyers only at 9c after it plunged to a $3.2 million after-tax loss in the first 6 months of the year ended June 30, attributed to a poor cash-flow and high legacy debts.

Daily market turnover plunged to $464 994 on a volume of 3.206 million shares against Friday's $6,387 million on a volume of 9.641 million shares.

Bankers FBC was one of the top 5 risers on the day, gaining 1.40c or 11.57% to 13.5c while ZBFH advanced 1.10c or 11% to 11.1c. ZPI closed 8.11 % firmer at 1.2c.

DZLH and African Sun gained 5.26% and 2.44% each to 20c and 2.1c respectively. Other counters to trade in the green were clothing retailer Edgars, Pearl Properties and SeedCo which added 0.25c, 0.05c and 1c each to 11.75c, 3.3c and 83c respectively.

Radar closed sellers only at 10c after CE Elias Hwenga told analysts on Friday that the firm wil continue focusing on brick making and property development in the aftermath of the successful demerger of Border Timbers.

Turnall also closed sellers only at 5.5c after reports that the group has stepped up efforts to diversify its product range by acquiring a state-of-the-art pave- maker set to be commissioned next month.

Only two counters traded on the downside, with NicozDiamond easing 0.30c or 12% to 2.2c while Powerspeed dropped 0.10c or 5.26% to 1.8c.

The Datvest All Share Index added 1.29 points or 0.97% to 134.51 while the heavyweight's measure, the FBC ZSE-10 Index added 1.19 points or 0.86% to 140.38.

The Allied Bank Banking Index added 1.90 points or 2.41% to 80.70 while the Mining Index recovered 0.77 points or 3.95% to 20.14 but remains 33.93% in the red this year to date.

Losses in NicozDiamond saw the Insurance Index becoming the only sector to close in the red losing 2.78 points or 1.98% to 137.69.
- zfn

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