ZSE daily turnover remains weak

Published: 11 October 2013

ZSE's Industrials managed to pull off another win at week's end to extend the rising streak to 19 in a row but daily market turnover continued to drop compared with the past weeks.

Most investors are still overly cautious and are comfortable observing from the sidelines.

The Industrials Index gained 124 points or 0.59% to 212.68 buoyed by gains in Econet while other blue chips, Delta and OK Zimbabwe closed unchanged.

Telecoms giant Econet closed amongst the top 5 gainers, adding 3c or 4.92% to 64c.

Heavyweights Delta and OK Zimbabwe remained stable at 140c and 27c respectively while Innscor closed buyers and sellers only at 90c and 100c.

The Minings Index closed unchanged at 48.99 with no activity in all the mining counters.

Daily market turnover dropped to $520 239 on a volume of 6.167 million shares against yesterday's $711 417 on a volume of 27.00 million shares.

Weekly market turnover also tumbled to $5,846 million on a volume of 56.88 million shares versus $20.41 million on a volume of 323.17 million shares recorded last Friday.

The top riser on the day was Pelhams, advancing 0.03c or 30% to 0.13c while Astra added 1c or 22.22% to 5.5c.

African Sun traded 4.76% firmer at 2.2c amid reports that the firm is structuring a transaction that will see the company retire a $10 million short term debt it owes local banks currently attracting high interest rates.

Bankers Barclays advanced 0.10c or 2.86% to 3.6c and Old Mutual gained a marginal 0.02% to 247.55c.

Only two counters traded on the downside and these are Ariston and TSL, shedding 30% and 2.94% each to 0.7c and 33c respectively.

ZB Securities pushed through a special bargain of 4.907 million Mash shares at 4c, up 25% on the last trading price of 3.2c.

The Datvest All Share Index added 1.10 points or 0.77% to 142.57 while the FBC ZSE-10 Index advanced 1.60 points or 1.07% to 150.68.

Only 2 sectors dosed in the red, the Agri-Industrial Index down 0.82% to 77.95 weighed down by losses in Ariston and the Conglomerates Index 0.50% weaker at 76.89 after losses in TSL.
- zfn