Industrials wades back into the negative territory

Industrials wades back into the negative territory
Published: 28 October 2013
Industrials were back in the negative territory on Monday as 2 block deals in African Sun and Dawn Properties highlighted the usually dull Monday trading sessions.

African Sun remained stable at 2.6c in a significant deal of 29.18 million worth $768 688 while Dawn Properties was the top riser after adding 0.10c or 8.33% to 1.3c in another block deal of 70.51* million shares worth $916 619 by brokers Lynton Edwards.

While most blue chips remained stable the mainstream Industrials packed in to losses in Innscor, which eased 1c to 84c.

Econet, which last Thursday postponed indefinitely the release of the August interims, remained stable at 60c.

Delta, which scheduled to release its interims mid November, also remained unchanged at 135c in paltry trades worth about $3 123.

The Industrials Index eased 0.61 points or 0.29% to 209.10 with heavyweight Innscor trading in the red while Delta and Econet closed unchanged.

Other heavyweight retailer OK Zimbabwe closed buyers and sellers only at 26c and 27c respectively while Hippo added 1% to 111.1c.

ZBFH closed 4.55% firmer at 11.5c amid reports that PG Industries has entered into a strategic partnership with ZB Building Society to offer a credit facility for building materials. Meanwhile, PG Industries closed sellers only at 0.2c.

Bankers FBC advanced 0.50c or 4% to 13c and Star Africa added 0.04c or 2.65% to 1.55c. Powerspeed gained 5.56% to 1.9c.

Astra led the top fallers, shedding 1 c or 20% to 4c while ZPI eased 8.33% to 1.10c. NTS and NMB dropped 7.46% and 6.67% each to close at 3.10c and 7c respectively.

The Minings Index remained stable at 47.48 with Bindura and Faigold trading unchanged at 2c and 4c respectively.

The Zfn board was however largely in the greed with the Conglomerates Index the only sector to close in the red after giving in to losses in Innscor.

The Datvest All Share Index added 0.13 points or 0.10% to 139.94 while the FBC ZSE-10 Index was 0.12 points or 0.08% up at 145.61.

- zfn
Tags: Industrials, ZSE,

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