Industrials' break 12 day losing streak

Published: 30 January 2014

Delta recovered a significant 2c or 1.72% to118c on Thursday to snap Industrials 12-day losing streak

The Industrials Index gained 0.56 points or 0.3% to 188.63 helped by gains in heavyweight Delta and dual listed Old Mutual while the Minings Index remained stable at yesterday s level of 35.04 as Falgold traded unchanged at 6c.

Old Mutual added 1.72c or 0.71% to 245.12c.

Heavyweights, Econet and OK Zimbabwe traded unchanged at 60c and 20c respectively. Meanwhile Zimbabwe's telecoms giant, announced that it is willing to deal with individual financial institutions only with regards to the opening up or the USSD gateway.

Conglomerate Innscor eased a marginal 0.01c or 0.01% to 75c.

Daily market turnover dropped to $7,402 million on a volume of 10.30 million shares compared to yesterday's $22.25 million on a volume of 24.39 million shares. Meanwhile, a special bargain of $3 million Seedco shares worth $2,270 million was executed by brokers Imara at 99.25c.

There were only four counters that managed gains on the board led by bankers FBC which gained 0.45c or 3.46% to 13.45c while Barclays traded 0.02c or 0.46% firmer at 4.4c.

Hunyani led the top fallers on the day, shedding 0.99c or 49.5% to 1.01c while NTS eased 0.6c or 23.08% to 2c. Zimplow Holdings dropped 0.5c or 2(5% to 2c while Masimba traded 1c or 16.67% weaker at 5c.

TSL dropped 2c or 5.26% to 36c ahead of its analyst briefing scheduled for this afternoon.

Other notable fallers, ZHL eased 0.05c or 4.76% to 1c while FML dropped 0.01c or 0.1% to 10c. Cigarette manufacturers BAT traded 1c or 0.07% weaker at 1350c.
- zfn