Investors pile into blue chip Delta

Published: 05 February 2014

ZSE shares stayed in the positive territory on Wednesday as investors, mostly foreign, continued to pile into the heavily capitalised counter Delta.

Delta added 1.5c or 1.21% to 125c amid strong bidding across the floor and accounted for the bulk of the volumes traded with 1.178 million shares worth S1.472 million trading.

At today's price of 125c Delta has now gained 7.76% in just a week after trading at 116c last Wednesday.

Daily market turnover dropped to $1.735 million on a volume of 2.256 million shares against yesterday's $3,056 million on a volume of 20.21 million shares. The Industrials Index gained 0.38 points or 0.20% to 191.89 but remains 5.06% down on the January 1 level of 202.12. The Minings Index remained stable at 33.55 points as Bindura traded unchanged at 1.3c.

Blue-chip while Econet and Innscor traded unchanged at 61c and 75c respectively. Retailer OK Zimbabwe closed 20c buyers only.

Another notable counter to close firmer was SeedCo which gained 0.5c or 0.55% to 92c.

Dawn led the top gainers on the board, advancing 0.09c or 10% to 0.99c while Zimpapers gained 0.05c or 6.67% to 0.8c. Meikles added 0.9c or 4.27% to 22c while PPC traded 5.01c or 2.04% to 250.01c.

DZHL was the lead counter to trade softer on the board, shedding 4c or 25% to 12c while ZHL eased 0.11c or 10.89% to 0.9c. Fidelity Life dropped 0.3c or 3.23% to 9c while CFI traded 0.1c or 2.94% weaker at 3.3c.

The Zfn board stayed largely in the green with the Datvest All Share Index adding 0.22 points or 0.17% to 129.36 while the heavyweight's measure, the FBC ZSE-10 Index was 0.46% firmer at 136.37.

The Insurance Index was the only sector to close in the red after losing 1.93 points or 1.80% to 105.39 dragged by losses in Fidelity and ZHL.

- zfn