ZSE shares maintain negative outlook

ZSE shares maintain negative outlook
Published: 22 January 2014
ZSE shares lost further ground on Wednesday with heavyweights Delta and Innscor trading weak as 10 counters ended in the red while just 5 managed gains on the day.

There was just one reasonable buyer in Delta with a book-over being challenged from 133.5c all the way down to 130.1c but deals were pushed through at 130.2c and 130.1c.

Delta thus dropped 3.90c or 2.91% to 130.1c at the same time the group increased its share in issue to 1 236 238 915 after adding 415 000 shares under its Share Option Scheme.

The Industrials Index eased 1.87 points or 0.93% to 198.98 taking its depreciation since January 1 to 1.55%. Heavyweight retail giant OK Zimbabwe gained 0.7c or 3.5% to 20.7c while Econet traded unchanged at 62c. Conglomerate Innscor dropped 1.89c or 2.37% to 78c.

The Minings Index also eased 1.42 points or 3.86% to 35.36 as Hwange led the top fallers on the board, shedding 0.5c or 8.33% to 5.5c.

Bindura eased 0.09 or 6.04% to 1.4c as its shares in issue increased to 1.238 bin from 1.229 bin shares following the addition of 8.907 million shares through private placement.

Daily market turnover slightly improved to $1,787 million on a volume of 4.453 million shares compared to yesterday's $1,484 million on a volume of 4.641 million shares.

Hippo led the top risers, advancing 5c or 5.26% to 100c while Pearl Properties gained 0.07c or 2.69% to 2.67c. FBC added 0.31c or 2.44% to 13.01c and Truworths gained a marginal 0.01c or 0.25% to 4.01c.

CFI also led the top fallers, shedding 0.3c or 8.33% to 3.3c while African Sun eased 0.2c or 7.69% to 2.4c. ZHL dropped 0.05c or 4.55% to 1.05c.

Other notable fallers were dual listed Old Mutual which eased 4.99c or 2.04% to 240.01c while ABC traded 1c or 1.67% weaker at 59c. RTG also dropped 0.01c or 0.83% to 1.2c.

Natfoods closed 195c buyers and 215c sellers only amid reports that the firm yesterday reopened its Mutare maize mill after 6 years of inactivity.

SeedCo remained stable at 91c after announcing the increase in shares in issue to 205194 326 an increase by 10.27 million shares through private placement.

The Datvest All Share Index remained stuck in the red after losing another 1.11 points or 0.83% to 133.77 while the heavyweight s measure dropped 1.47 points or 1.04% to end at 140.39.

Considerable losses were recorded in the Tourism sector which dropped 4.18% at 24.73, the Mining Index down 3.93% to 14.09 and the Manufacturing sector which lost 2.07% to 246.82.

There were only 3 indices to manage gains on the Zfn board with the Truworths Retail Index rising by 2.87% to 282.90 as OK Zimbabwe and Truworths closed in the positive.

The Agri-Industrial Index added 1.50 points or 1.96% to 77.96 largely on gains in Hippo while the Property Index was also 0.73 points or 0.65% better at 114.20.

- zfn

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