ZSE Industrials falters in Tuesday trades

ZSE Industrials falters in Tuesday trades
Published: 03 December 2013
ZSE's Industrials faltered on Tuesday weighed down by losses in heavyweights Econet and Delta whist Minings improved on gains in Bindura.

Only 3 counters managed gains against 8 that traded lower while 15 remained unchanged from previous levels.

The Industrials Index eased 0.13 points or 0.06% to 213.78 as heavyweights Delta and Econet traded on the downside cancelling gains in OK Zimbabwe.

Delta eased a marginal 0.05c or 0.03% to 151 c with a special bargain of $2.6 million shares traded by brokers, Imara again. Meanwhile, telecoms giant Econet dropped 0.05c or 0.08% to 62.95c.

Heavyweight retailer, OK Zimbabwe gained 1c or 4.76% to 22c while conglomerate Innscor closed unchanged at 80c.

Minings Index gained 1.79 points or 3.81% to 48.81 as Bindura led the top risers on the board, advancing 0.20c or 10% to 2.2c while RioZim traded unchanged at 32c.

Daily market turnover slightly dropped to $6,205 million on a volume of 20.70 million shares bolstered by a special bargain of 2.6 million Delta shares worth $2,243 million which was executed by Imara at 150c each.

Other notable gainer, Masimba gained 0.50c or 7.69% to 7c.

Tumall led the top fallers, shedding 1c or 18.18% to 4.5c while FML eased 2c or 16.67% to 10c. Art dropped 0.05c or 12.5% to 0.35c and Afdis traded 3c or 8.57% weaker at 32c.

Other counters to trade in the red, bankers CBZ eased 0.40c or 2.60% to 15c while cement manufacturer PPC traded 6c or 2.4% weaker at 244c.

DZHL closed 13c buyers and 17c sellers only as the firm reported that acute shortage of raw milk supplies in the country is a huge obstacle to exploring opportunities for business growth with imports seizing the chance to fill in the supply gap left by local companies.

The Datvest All Share Index dropped 0.13 points or 0.09% to close at 142.68 whilst the FBC ZSE-10 Index on the other hand added 0.33 points or 022% at 149.51.

Significant gains were recorded on the Truworths Retail Index buoyed by a gain in OK Zimbabwe after rising 1123 points or 3.93% at 297.02.

On the downside the Insurance Index dropped 12.45 points or 9.57% to close at 117.71 on the back of losses in FML.
- zfn


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