Delta spurs Industrials at week's opening

Published: 18 November 2013

ZSE's Industrials stayed in the positive territory on Monday largely buoyed by strong trades in Delta and Natfoods.

The Industrials Index gained 1.04 points or 0.48% to 217.27 taking its gains in the year to 42.57% and is now 15.91 points or 6.82% shy of its August 1 record level.

Delta closed amongst the top 5 risers on the day, adding 2.50c or 1.69% to 150.5c. Meanwhile, Afdis remained stable at 32c after reports that that its shareholders Delta Beverages and Old Mutual are going to provide shareholder loans of $5 million to Afdis for the acquisition of equipment that will see the company locally producing cider brands.

Delta looked strong at 150.50c with buyers still looking at that level taking its total market cap to $1.85 bin and is now just 4.14% shy of its all-time high of 157c.

Heavyweights Econet and Hippo traded unchanged at 61c and 115c while OK Zimbabwe remained stable at 25c ahead of its interims and analysts briefing tomorrow.

Blue chip Innscor closed buyers and sellers only at 86c and 87c respectively with its associate Natfoods closing amongst the top 5 risers, adding 5c or 2.33% to 220c.

Minings remained stable at 46.09 with no activity in the mining counters.

Daily market turnover was down to $1.116mlnon a volume of 4.311mln shares from Friday's $1,612 million on a volume of 4.199 million.

ZHL led the top risers gaining 0.15c or 12% to 1.4c while NTS advanced 0.20c or 6.67% to 3.2c. Bankers Barclays traded 2.22% at 4.6c.

Other counters to trade in the green were Truworths and Zimplow Holdings, which added a marginal 0.01c each to 3.76c and 3.55c respectively.

Top faller on the market was Hunyanl, dropping 1.50c or 37.50% to 2.5c while TA Holdings eased 33.33% to 6c. ABC and Cafca dropped 13.79% and 8.57% each to 50c and 32c respectively.

Star Africa recorded a 6.67% decrease of 0.10c to 1.4c and Powerspeed closed 0.10c weaker at 1.8c. African Sun also traded on the downside, shedding 0.36% to 2.76c while DZLH dosed 0.05% weaker at 19c.

Turnall traded unchanged at 4.5c after being awarded the best governed company on the ZSE in the inaugural Excellence in Corporate Governance Awards. BAT Zimbabwe came second while Econet came third.

Fidelity Life closed sellers only at 10.5c amid reports that the firm has temporally halted its expansion programme into the region as it seeks to consolidate current operations to ensure sustainable growth.

The Datvest All Share Index added 0.18 points or 0.13% to 144.10 while the FBC ZSE-10 Index was 0.50 points or 0.33% firmer at 151.53.

Losses in ABC dragged the Allied Bank Banking Index 3.55% down to 81.50 while the Conglomerates Index ended 0.61 points or 0.80% weaker at 75.55 on losses in Star Africa and TA Holdings.
- zfn