ZSE shares wallow in the red

Published: 21 January 2014

Blue chips Delta, Econet and Innscor stayed with the broader market in the negative territory on Tuesday as Industrials recorded their 6th straight loss.

The Industrials Index eased 0.63 points or 0.31% to 200.85 taking its losses this month so far to 0.63%.

Blue chip, Delta eased 2c or 1.47% to 134c while its subsidiary Afdis closed amongst top 5 fallers, shedding 1.50c or 4.69% to 30.5c.

Heavyweights Econet and Innscor also traded on the downside, easing 0.02% and 0.14% each to 62c and 79.89c respectively. Meanwhile, OK Zimbabwe remained stable at 20c.

The Minings Index also eased 1.59 or 4.14% to 36.78 as Bindura dropped a significant 0.16c or 9.70% to 1.49c while Hwange eased 0.13c or 2.12% to 6c.

The resources index is a significant 19.68% down on the January 1 level of 45.71.

Daily market turnover slightly improved to $1,484 million on a volume of 4.641 million shares compared to yesterday's $1,403 million on a volume of 3.204 million shares.

The top gainer on the day was Meikles, adding 1.70c or 8.95% to 20.7c. Padenga gained 0.50c or 6.25% to 8.5c while NTS picked 4% to 2.6c.

Other counters to close in the green were DZLH and RTG which advanced 3.23% and 0.83% each to 16c and 1.21c respectively. Cement manufacturer PPC added 3c or 1.24% to 245c.

BAT added 30c or 2.27% to 1350c amid unconfirmed reports that the firm is divesting from Zimbabwe after well-placed sources said the company was working out an exit plan from the troubled southern African country for yet an unspecified reason.

ZHL led the top fallers on the day, dropping 0.30c or 21.43% to 1.1c while Pearl Properties eased 0.15c or 5.45% to 2.6c. Clothing retailer, Truworths closed 4.76% weaker at 4c.

The Zfn board stayed largely in the red with the Datvest All Share Index losing a further 0.33% to 134.89 while the FBC ZSE-10 Index dropped 0.44% to 141.86.

Notable losses were recorded in the Mining Index which closed 4.12% lower at 14.62, the Insurance IndexO s 3.17% drop to 116.34 and the Property Index which lost 2.35 points or 2.03% to 113.47.

There were only 3 sectors to manage gains with the Conglomerate Index rising by 0.59% to 71.27, the Agri-Industrial Index 0.55% up at 76.45 and the Tourism Index which recovered 0.42% to 25.81.

- zfn