Industrials down again as heavyweights remain weak

Industrials down again as heavyweights remain weak
Published: 21 October 2013
ZSE's heavily capitalised counters remained weak at week's opening as Industrials recorded second consecutive loss.

The Industrials Index eased 1.01 points or 0.47% to 212.35 as heavyweights Delta and Innscor closed amongst the four counters which traded on the downside.

Delta dropped 1.81 % to 135.01c while Innscor eased a modest 0.01% to 88.99c. Meanwhile, blue chip Econet remained stable at 63c and OK Zimbabwe closed buyers and sellers only at 26c and 27c respectively.

The Minings Index also eased 2.41 or 4.65% to 49.46 as RioZim closed as the top loser on foe day, shedding 2c or 5.71% to 33c.

Only four counters traded in the green and the top riser was Padenga adding 0.50c or 6.67% to 8c while Aico Africa advanced 0.20c or 5% to 42c. DZLH and African Sun gained 2.63% arid 2.13% each to 19.5c and 2.4c respectively.

Meikles closed unchanged at 27.1c after setting an EGM to approve the issuing of further 4 million shares for the Meikles Limited Employee Share Ownership Trust for Wednesday November 27.

Bankers FBC traded on the downside, easing a marginal 0.05c or 0.41% to 12c.

The Zfn board was largely in the red with the benchmark Datvest All Share Index dropping 0.62 points or 0.43% to 141.98 while the FBC ZSE-10 Index was 0.66% weaker at 148.56.

There were only 2 indices to close in the positive, the Agri-Industrial Index which added 0.59 points or 0.71 % to 83.08 on gains in Aico Africa and Padenga while gains in African Sun helped the Tourism Index to recover 0.24 points or 0.95% to 25.82. 
- zfn

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