ZSE turnover slumps to below the million dollar mark

Published: 09 October 2013

Activity on the ZSE slowed on Wednesday but Industrials managed to scratch out modest gains albeit in thin volumes.

The Industrials Index gained a marginal 0.01 point or 0.005% to 210.24 while the Minings Index dropped 0.98 points or .93% to 49.73 as RioZim dropped 2.5c or 7.14% to 32.5c.

Daily market turnover slumped to below the million dollar mark closing the day on $976,853 on a day characterised by very low volumes across the board. 6.366 million shares exchanged hands.

Delta, which accounts for 30.77% of the Industrials Index, added a modest 0.01c to 136.01c in paltry trades worth just $177.

SeedCo advanced 0.10c to 90.1c and remains buyers at the same price after announcing the proposed Placement of ordinary shares with a Strategic Global Partner, Vilmorin & Cie, to be approved by shareholders at the end of this month.

Aico Africa was 0.20c or 6.06% firmer at 3.5c while OK Zimbabwe remained unchanged at 27.4c.

Econet which launched a new service called EcoCashSave, which allows an EcoCash customer to move money from their eWallet to an interest bearing account in a matter of seconds traded unchanged at 61 and Innscor also traded unchanged at 89c.

Interfresh led the top risers of the day after recovering 0.30c or 20% back to 1.8c while Pelhams led the day's top falters after shedding 0.05c or 33.33% to 0.1c.

TSL, which now accounts for 2.17% of the Industrials Index, was among the notable risers on the day after gaining 2c to 34c, which is an all-time high.

Other notable risers, Lafarge added 5c or 4.55% to 115c whie Star Africa gained 0.04c or 3.33% to 1.24c.

Bankers Barclays dropped 0.50c or 12.5% to 3.5c and Masimba eased 0.10c or 1.96% to 5c. Fidelity Life traded 0.10c or 0.90% weaker at 11c.

The benchmark Datvest All Share Index dropped 0.26 points or 0.18% to 140.49 while the FBC ZSE-10 Index was a marginal 0.01% up at 147.64.

The market closed with investors still hungry for shares but not willing to improve their bids and hence inactivity prevailed.
- zfn