Industrials stays in the red

Published: 13 February 2014

A special bargain of 13.85 million DZHL shares pushed through by brokers MMC Capital at 15c helped ZSE daily turnover to rise to $4,206 million on Thursday but trading across the board remained lethargic.

Daily market turnover thus improved to $4,209 million on a volume of 22.30 million shares against yesterday's $320 696 on a volume of 1.554 million shares. The Industrials Index slid another 1.05 points or 0.55% to 189.77 taking losses in the year to 6.24%.

Delta maintained its downward movement after losing another 1.94c or 1.55% to 123.01c. The group has increased its shares in issue to 1 239 951 215 from 1 239 843115 through its share option scheme.

Retail giant OK Zimbabwe gained 0.49c or 2.51% to 20c after reports that the group has opened technology shop in Eastlea with CEO Willard Zireva saying OK Zimbabwe was not going to be changing its major trading business but merely looking into the needs of the current market

Blue-chip Econet added 1.01c or 1.66% to 62.01c while conglomerate Innscor added 1c or 1.33% to 76c.

Natfoods led the top gainers, advancing 10c or 5% to 210c while retailer Edgars gained 0.5c or 4.17% to 12.5c. PPC picked up 4.99c or 2% to 255c while dual listed Old Mutual added a marginal 0.1c or 0.04% to 242.1c.

Barclays traded unchanged at 4.2c amid reports that the banking group says it may lay off some of its workers if the move improves operational efficiencies.

Alco Africa led the top falters across the board, shedding 1.48c or 74.75% to 0.5c after the listing of its 560 831 770 rights offer shares to take its total shares in issue to 1 094 957 266.

Ariston eased 0.2c or 33.33% to 0.4c while Hippo also dropped 15c or 16.67% to 75c.

The Minings Index remained stable at 33.61 points as Bindura and Hwange traded unchanged at 1.3c and 6c respectively.

The Datvest All Share Index drifted further down after losing 0.63 points or 0.49% to 127.78 taking its losses in the year to 5.69% while the blue chips measure, the FBC ZSE-10 Index was 0.59 points or 0.44% weaker at 135.27 and 4.55% in the red since January.

Only 3 indices closed in the positive with the Conglomerates Index adding 0.61 points or 0.90% to 68.24 while the Dual Listed Index ended 0.47% up at 190.18. The Truworths Retail Index added a significant 6.91 points or 2.58% to 275 on gains in Edgars and OK Zimbabwe.

- zfn