Industrials slips further as Delta trades lower

Published: 04 December 2013

Industrials continued to sink on Wednesday dragged lower by Delta while Mining Index eased with losses in Hwange.

The Industrial Index eased 1.07 or 0.50% to 212.71 as Delta dosed amongst the lop fellers on the day cancelling marginal gains by Econet and OK Zimbabwe.

Blue chip Delta dropped 1c or 0.66% to 150c while conglomerate Innscor remained stable at 80c.

Meanwhile, heavyweights OK Zimbabwe and Econet traded in the green, advancing 0.23% and 0.08% each to 22.05c and 63c respectively.

Minings eased a significant 5% to 46.37 following losses in Hwange, down 2c or 22.22% to 7c.

Total market turnover improved to $7.096million on a volume of 43.83million shares as MMC executed a special bargain of 30 million Zimplow shares at 3.27c with a value of $981 000. Meanwhile, yesterday's daily turnover was $6.205 million on a volume of 20.70 million shares.

Art led the top risers, adding 0.05c or 14.29% to 0.40c while Aico Africa advanced 7.36% to 7c. Cement manufacturer PPC closed 0.41% firmer at 245c.

Meikles closed unchanged at 25c after reports that the firm only managed to trade itself out of a possible significant loss in the interim to September 2013 due to a significant growth in interest income anticipated as yet unpaid investment deposit at the Reserve Bank of Zimbabwe.

On the downside, Pioneer dropped 25% to 3c while DZLH eased 4c or 23.53% to 13c. Dawn also closed in the negative, shedding 0.01 c to 1c.

On the Zfn board, the Datvest All Share Index shed yet another 0.63 points or 0.44% to close at 142.05 and the FBC ZSE-10 Index lost 0.35 points or 024% at 149.16
- zfn