Industrials record 6th straight rise

Published: 07 February 2014

Delta and Econet shares remained the most preferred and accounted for the bulk of the volumes on the ZSE Thursday as Industrials logged 6th consecutive rise largely spurred by gains in the beverages counter.

Blue chip Delta added 1.31c or 1.05% to 126.31c after buyers challenged from 125c all the way up to 126.5c before coming down to the closing price of 126.31c.

The Industrials Index gained 0.65 points or 0.34% to 192.54 trimming its losses in the year to 4.74%. Delta's subsidiary Afdis also traded in the green, advancing 1.50c or 4.92% to 32c.

Meanwhile, telecoms giant Econet closed unchanged at 61c while Innscor and OK Zimbabwe closed sellers only at 76c and 20c respectively. Dual listed Old Mutual was one of the 3 counters to trade on the downside, easing 2.02c or 0.82% to 243.10c. The Minings Index remained stable at 33.55 with no activity by the mining counters.

There was a significant drop in daily market turnover to S722 463 on a volume of 1.625 million shares against yesterday's $1,735 million on a volume of 2.256 million shares.

Cafca led the top risers adding 4c or 15.38% to 30c while ZHL traded 11.11% firmer at 1c. Zimpiow Holdings gained 0.10c or 5.26% to 2c.

The top loser on the day was Dawn, dropping 0.09c or 9.09% to 0.90c while Masimba eased 0.25c or 4.76% to 243.10c.

Zimpapers closed buyers only at 0.75c after appointing a new, 10-member board chaired by former Chief Secretary to the President and Cabinet, Charles Utete.

SeedCo remained stable at 92c amid report that it is close to selling part of its shareholding in Quton, a cotton seed developer, to an Indian company Mahyco for a yet to be disclosed amount.

Willdale closed buyers only at 0.04c after publishing a further cautionary statement saying negotiations are still in progress on a transaction to re-finance the company whose outcome could have a material effect on the business and the share price.

The Datvest All Share Index advanced 0.39 points or 0.30% to 129.75 but remains 4.23% down on the January 1 level of 135.48 while it is 5.71% up on a year earlier.

The heavyweights measure, the FBC ZSE-10 Index picked up 0.49 points or 0.36% to 136.86 but is still 3.43% in the red on the January 1 level of 141.74 while on a year on year basis its up 7.06%.

- zfn