Industrials record second rise of 2014

Published: 16 January 2014

ZSE's Industrials recorded their second rise of the New Year 2014 in midweek trades as volumes recovered after significant deals in Delta and Econet while Minings recorded another loss.

The Industrials Index gained 0.40 points or 0.20% to 201.92 buoyed by gains in heavyweights Delta, Econet and OK Zimbabwe.

Blue chip Delta closed amongst the top 5 risers adding 1.40c or 1.01% to 140c while telecoms giant Econet added a marginal 0.01c or 0.02% to 61.01c. Meanwhile, heavyweight retailer OK Zimbabwe picked up 0.40c or 2.09% to 19.50c while Innscor traded unchanged at 80c.

The Minings Index eased 0.77 points or 1.75% to 43.31 as RioZim traded amongst the top fallers on the board, shedding 2c or 6.06% to 31c.

Daily market turnover significantly improved to $2,876 million on a volume of 7.935 million shares against yesterday's $529 823 on a volume of 3.969 million shares.

DZHL led the top gainers on the board, advancing 0.9c or 5.96% to 16c while FML gained 0.30c or 3.66% to 8.50c. Clothing retailer counter Edgars added 0.10c or 0.80% to 12.60c and Aico Africa traded 0.01c or 0.17% firmer at 6.01c.

ZPI led the top fallers, shedding 0.2c or 15.38% to 1.1c after reports that the firm has unveiled plans to develop a state-of-the-art office park along Borrowdale Road at an estimated cost of over $13 million.

Other top fallers, Barclays eased 0.2c or 5% to 3.8c while Truworths dropped 0.19c or 4.52% to 4.01 c and cement manufacturer PPC eased 5c or 2.08% to 235c.

The Datvest All Share Index was 0.39 points or 0.29% better at 135.63 while the FBC ZSE-10 Index added 0.71 points or 0.50% to 142.56.

The Manufacturing Index recorded significant gains after adding 2.23 points or 1.76% to end at 258.83 while the Truworths Retail Index was also 1.54% up at 269.70.

On the downside the Property Index lost a significant 2.90 points or 2.62% to 112.12 on losses in ZPI while the Banking Index packed in to losses in Barclays by losing 0.77 points or 0.95% to 80.97.
- zfn