ZSE daily turnover slumps to below $300,000

ZSE daily turnover slumps to below $300,000
Published: 14 October 2013
The market opened the week dismally with turnover slumping to close at under the $300 000 mark.

Industrials maintained their ascent toward the record levels reached on August 1 albeit in lethargic trading typical of Mondays.

The Industrials Index added a marginal 0.87 points or 0.41% to 213.55 narrowing the gap between the August 1 record level of 233.18.

The daily market turnover remained weak as it dropped to a paltry $275 942 on a volume of 2.094 million shares with reasonable trades being recorded in Econet and NTS only, with the broad market trading very thin volumes.

Telecoms giant Econet gained 1c or 1.56% to 65c while Innscor added 1cor 1.12% to 90c. Other heavyweights Delta and OK Zimbabwe remained unchanged at 140c and 27c respectively.

The Minings Index gained 2.46 points or 5.02% to 51.45 buoyed by gains in Bindura, Hwange and RioZim which also closed as three of the top five risers on the board.

Bindura gained 0.20c or 11.11% to 2c while RioZim traded 2.5c or7.69% firmer at 35c. Hwange added 0.49c or 4.66% to 11 c.

Aico Africa led the top risers on the board, advancing 0.50c or 14.29% to 4c while bankers Barclays and gained 0.40c or 11.11% to 4c.

Other notable risers, NTS added 0.10c or 3.13% to 3.3c and TSL recovered 1c or 3.03 to 34c. Star Africa traded 0.03c or 2.27% to 1.35c.

DZHL led the top fallers shedding 1.88c or 9.46% to 18c while ZPI eased 0.04c or 3.51% to 1.1c. African Sun dropped 0.05c or 2.27% to 2.15c.

Only 3 indices closed in the red, the Manufacturing Index down 0.28% to 264.49, Property Index 0.47% weaker at 123.59 and the Tourism Index which dropped 0.90% to 26.79.

Buying remains very firm but sellers have taken a back seat hence volumes remain subdued.

The week looks set for the firming of the market across both indices as buyers remain hungry for shares. 
- zfn

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