Blue chips help Industrials open the week firmer

Published: 02 December 2013

Heavily capitalised counters Delta, Econet and OK Zimbabwe extended gains on Monday to help the Industrials open the new week in the positive.

The Industrials Index added 0.87points or 0.41% to 213.91 while the Minings Index remained unchanged at 47.02 as no movements were recorded in the sector.

Heavyweight retailer OK Zimbabwe closed as the top riser on the market, adding 1c or 5% to 21c while telecoms giant Econet gained 0.80c or 1.29% to 63a

Delta advanced 1.05c or 0.70% to 151.05c with a special bargain of 3mh shares traded by brokers, Imara. Meanwhile, conglomerate Innscor closed buyers and sellers only at 70c and 82c respectively with its associate Colcom closing amongst the top 5 risers, adding 1c or 3.85% to 27c.

Turnover improved to $6.291million on a volume of 7.884 million shares bolstered by a special bargain of 3.1 million Delta shares worth $4.654million which was executed by Imara at 150c each. Total turnover recorded on Friday was $1.318million on a volume of 5.839 million shares.

Other counters to trade in the green are clothing retailer Edgars and hotel properties owner, Dawn, adding 0.40c and 0.01c each to 12.50c and 1.01c respectively.

Aico Africa added 0.02c or 0.31% to 6.52c amid reports that the firm is set tor a top management shake-up as part of ongoing unbundling, with the chief executive and finance director expected to be on their way out

Zimplow Holdings dosed sellers only at 4.2c after reports that Tetrad intends to dispose of its 27% stake in the agriculture and mining implements company to raise capital tor its banking division, Tetrad Investment Bank.

Hippo led the falling counters after losing 4.76% to 100c.

Mash and CFI were amongst the tour counters that traded on the downside, shedding 3.03% and 2.70% each to 3.20c and 3.60c respectively. Bankers CBZ closed 0.65% weaker at 15.40c.
- zfn