ZSE daily turnover keeps rising

Published: 26 March 2014

ZSE's Industrials stayed in the red on Wednesday as prices in blue chip counters continued to fall but daily volumes improved again largely on bargain hunters swooping on perceived cheap shares.

Heavyweight counters BAT, Delta, Hippo, Innscor and SeedCo slipped further resulting in the Industrials Index dropping 1.63 points or 0.92% to 175.47, taking its losses in the year to 13.19%.

Daily market turnover improved to $2,583 million on 8.493 million shares from yesterday's $2,261 million on 9.037 million shares helped by significant volumes in Delta ($719 323), Econet ($627 277), Innscor ($422 405), OK Zimbabwe ($363 620) and TSL ($190 468).

Delta lost 1c to 115c, taking its losses in the year to 17.9%. Delta last traded at that level in August last year.

Conglomerate Innscor slipped another 0.50c to 62c. Innscor last traded at that price on 11 September 2012.

BAT lost another 50c to 1100 and looked weak with buyers dropping their bid to 1000c while sellers were still selling at 1100c.

Hippo closed 5c weaker at 70c while SeedCo dropped 5c to 80c. TSL also lost 0.50c to 36.5c.

Barclays led the top fallers on the day after shedding 0.40c to 3.5c while Padenga lost 0.30c to 8.1c ahead of its presentation to analysts and tour in Kariba tomorrow.

Econet however remains stable at 60c while gains were recorded in retail blue chip OK Zimbabwe which advanced 0.40c to 18c.

Other 2 counters trading in the positive were bankers CBZ which added 0.12c to 16.14c, in the wake of the appointment of its CEO John Mangudya as RBZ governor while "FBC recovered 0.08c to 12.6c after setting record date for its final dividend of 0.149c for Friday April 4.

The Minings Index remained stable at 30.24 as no trades were recorded in the sector.

The benchmark Datvest All Share Index continued to sink after losing another 1.22 points or 1.02% to 118.48 while the heavyweight's measure, the FBC ZSE-10 Index closed 1.30 points or 1.04% lower at 124.56.

Losses in agri-industrial counters Hippo, Padenga and SeedCo saw the Agri-Industrial Index taking the heaviest knock on the Zfn board after losing 3.26 points or 4.98% to 62.12.

The Truworths Retail Index was the only sector to manage gains after advancing 4.49 points or 1.82% to 250.74 on gains in OK Zimbabwe.
- zfn