Delta sustains ZSE Industrials index

Published: 10 October 2013

There were only 3 counters to trade in the positive on Thursday but gains in Delta, which accounts for 31.51 % of the Industrials Index, managed to sustain the mainstream index's rising streak.

The Industrials Index gained 1.20 points or 0.57% to 211.44 with Delta closing amongst the only 3 counters which traded in the green while other heavyweights Econet and Innscor remained stable.

The Minings Index eased 0.74 or 1.49% to 48.99 after Falgold's offer was brought down to 8c from 10c yesterday.

Daily market turnover remained below the $1 million level dropping to $711 417 on a volume of 27.00 million shares versus yesterday's $923 468 on a volume of 6.366 million shares.

Delta advanced 3.99c to 140c and is now just 10.83% down from its all-time best price of 157c. Delta on Monday announced the increase of the price of beer by between 10c and 20c but did not give reasons for the increase.

Other counters to trade in the positive were MedTech which added 0.01c or 25% to 0.05c in a volume of 22.54 million shares but worth just $11 271 and Star Africa which added 0.08c to 1.32c.

Econet and Innscor remained stable at 61c and 89c respectively.

On the downside notable fallers were OK Zimbabwe down 0.40c to 27c, Zeco which led the day's fallers after dropping 0.04c to 0.02c in rare trades worth a paltry $74.

Border Timbers was 5c or 25% down to 15c also in rare trades after being demerged from Radar Holdings.

FML and Hunyani dropped 17.86% and 14.29% each to 11.50c and 3c respectively. Padenga closed 6.25% weaker at 7.50c while DZLH and African Sun also traded on the downside easing 0.12c and 0.02c each to 19.88c and 2.1c respectively.

The Insurance Index dropped a significant 15.57 points or 11.28% to 122.49 on losses in First Mutual while the Truworths Retail Index eased 4.49 points or 1.26% to 350.84 as a result of losses in OK Zimbabwe.

- zfn