Delta leads Industrials to another day of modest gains

Published: 08 April 2014

Delta led the Industrials to another day of moderate gains on Tuesday as overall trading across the board remains lethargic.

The Industrials Index gained a modest 0.01 points to 176.39 with 5 counters trading in the green amongst them heavyweight Delta while other blue chips remained stable.

Blue chip Delta added 0.10c or 0.09% to 115.10c while Econet and Innscor remained stable at 62.5c and 62c respectively. Another heavyweight retailer OK Zimbabwe closed buyers only at 19c.

The Minings index also gained 0.29 or 1.02% to 28.82 as Bindura trading unchanged at 1.3c but its bid improved to 1.3c from 1.2c yesterday while Hwange closed as one of the top 5 losers on the market.

A significant improvement was recorded in the daily market turnover at $1 275million on a volume of 11.40 million shares against yesterday's $607 544 on 4.982 million shares.

Star Africa led the top risers advancing 0.05c or 5.56% to 0.95c while NicozDiamond gained 1.35c or 3.85% to 1.35c. Bankers Barclays closed 2.94% firmer at 3.50c while FBC added 0.80% to 12.60c.

The top loser on the day was cement manufacturer Lafarge which eased 11.76% to 75c while PPC dropped 10c or 4.35% to 220c.

CFI traded 3.48% weaker at 2.22c and Pearl Properties dropped 0.04c or 1.52% to 2.60c. CBZ and Padenga eased 0.10c and 0.01c each to 6c and 7.99c respectively.

ZBFH closed sellers only at 9c after reports that the financial institution plans to increase its sen/ices to the informal sector as the group has proved to be a low default risk when it comes to loan repayments.

The Zfn board was largely mixed with the benchmark Datvest All Share Index ending 0.14% down at 118.99 while the blue chips measure, the FBC ZSE-10 Index scratched out a modest 0.03% rise to 126.29.

There were 4 other indices to close in the red on the Zfn board while 3 others ended in the positive.
- zfn