Industrials wallows in the red

Industrials wallows in the red
Published: 11 December 2013
ZSE shares stayed much in the red on Wednesday dragged down by widespread losses on the main board after Finance minister Patrick Chinamasa announced that he will be presenting the 2014 National Budget on Thursday next week.

The Industrials Index eased 0.65 points or 0.31% to 20829 as heavyweights Delta, Innscor and OK Zimbabwe closed on the downside.

Blue chip Delta dropped 0.50c to 146c whilst one of the top 5 fallers Econet closed 1.59% weaker at 62c.

Conglomerate, Innscor dropped a marginal 0.01% to 76.99c as its associate Natfoods traded amongst the top 5 losers, shedding 5c or 2.33% to 210c. OK Zimbabwe remained stable at 21.8c.

Meanwhile, Old Mutual eased 1c or 0.37% to 270c.

The Minings Index also eased 0.81 or 1.82% to 43.77 with Falgold dropping 1c or 14.29% to 6c.

The market turnover significantly dropped to $1.045 million on a volume of 4.075 million shares against yesterday's $4,535 million on a volume of 15.31 million shares.

Aico Africa led the risers on the day, adding 0.90c or 12.68% to 8c and Zimplow Holdings gaining 020c or 6.67% to 3.20c.

Other risers were African Sun and Dawn which advanced 3.70% and 1% each to 2.80c and 1.01 c respectively.

Astra closed buyers only at 5c after reports that the firm's major shareholder Kansai Plascon has to scale down its stake in the group to 49% by January 2018.

Art and Fidelity Life closed on the downside, easing 12.50% and 11.11% each to 0.35c and 8c respectively.

The Datvest All Share Index lost a further 0.52 points or 0.37% to 139.32 while the FBC ZSE-10 Index was 0.86 points or 0.58% weaker at 14628.

The Zfn board remained largely in the red with only 3 indices Agri-Industrial, Property and Tourism managing gains out of the 10 that recorded movements.


- zfn

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