Delta sustains Industrials at week's end

Published: 31 January 2014

Further gains in Delta helped the Industrials manage modest gains on Friday but overall activity slowed with just 17 counters recording trades compared with 26 that traded yesterday.

The Industrials Index gained 0.62 or 0.33% to 189.25 buoyed by gains in Delta while other blue chips Econet and OK Zimbabwe remained stable. Delta added a marginal 0.61c or 0.52% to 118.61c.

Telecoms giant Econet and heavyweight retailer OK Zimbabwe closed unchanged at 60c and 20c respectively while Innscor closed sellers only at 76c.

Minings also gained 0.36 points or 1.03% to 35.40 as Falgold and Hwange traded unchanged at 6c each.

There was a significant decrease in the daily market turnover to $1.755mln on a volume of 13.61mln shares as Econet traded in transactions worth $1.221mln. Yesterday's turnover was $7.402mln on a volume of 10.30mln shares.

Market turnover for the whole week improved to S33.49mln on a volume of 55.07mln shares from last week's $9.110mln on a volume of 23.47mln shares.

Only four counters closed in the green led by NTS which advanced 0.60c or 30% to 2.6c while Mash gained 0.20c or 6.67% to 3.2c. TSL closed 2.78% firmer at 37c after CE Washington Matsaira told analysts at a briefing yesterday that the firm is looking to broaden its participation in agriculture beyond tobacco through growing other crops in a structured way.

African Sun led the two counters which traded on the downside, shedding 0.10c or 3.70% to 2.60c while clothing retailer Truworths dropped 0.01c or 0.25% to 4c.

It was with deep regret that we learnt about the passing away of Robert Dube, the esteemed FD of Tumail Holdings Limited. We express our heart-felt condolences on this sad loss. Please be advised that the burial will be held tomorrow, Saturday 1st February 2013. The church service will be held at 7.30 am at the Rhodesville Catholic Church. Thereafter the funeral cortege will leave for burial at Glen Forest between 11am and 12pm. May his departed soul rest in peace.
- zfn

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