Industrials crawl back from yesterday’s losses

Industrials crawl back from yesterday’s losses
Published: 21 February 2014

ZSE's Industrials crawled back into the positive territory on Wednesday spurred by gains in blue chips Delta and Innscor while significant volumes in Innscor and SeedCo bolstered the day's turnover.

The Industrials Index gained 0.76 points or 0.40% to 189.80 buoyed by gains in heavyweights Delta. Innscor and OK Zimbabwe.

Daily market turnover significantly improved to $3,658 million on a volume of 7.186 million against yesterday's $589 390 on a volume of 10.447 million shares.

Blue chip Delta gained 0.79c or 0.64% to 124.79c while conglomerate Innscor added 2c or 2.63% to 78c in deals worth $791 455.

Heavyweight retail giant OK Zimbabwe also gained a marginal 0.01c or 0.05% to 19.5c while Econet traded unchanged at 62c.

The Minings Index remained stable at 33.61 points with Bindura and Falgold trading unchanged at 1.3c and 6c respectively.

Arlston led the top gainers on the board, advancing 0.2c or 50% to 0.6c while Zimpapers gained 0.2c or 25% to 1c. Zimplow Holdings added 0.13c or 6.44% to 2.15c while FBC picked up 0.5c or 3.85% to 13.5c.

Other notable risers, PPC added 4c or 1.56% to 260c while SeedCo gained 1c or 1.11% to 91c after recording transactions worth a significant $2,230 million.

NMB closed 5c buyers and 6c sellers only after reports that the bank is looking to raise about $5 million from investors such as pension funds to provide loans for Small and Medium Enterprise companies that have the capacity to pay back the money.

ZHL led the top losers across the board, shedding 0.2c or 16.67% to 1c while NTS eased 0.4c or 16% to 2.1c. Bankers Barclays traded 0.2c or 4.76% weaker at 4c while Cafca eased 1c or 3.85% to 25c.

Cigarette manufacturer BAT dropped 20c or 1.46% to 1350c.

The Datvest All Share Index added 0.47 points or 0.37% to 128.03 while the FBC ZSE-10 Index was 0.60 points or 0.44% up at 135.75.

- zfn

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