ZSE shares snap prolonged losing streak

ZSE shares snap prolonged losing streak
Published: 23 April 2014
ZSE shares managed to snap a prolonged losing streak on Wednesday buoyed by a number of significant deals mostly in heavily capitalised counters while isolated buyers who challenged some of the bookovers spurred today's recovery.

There were significant volumes trading in BAT, Delta, Econet, FBC, Inns cor NicozDiamond, Pearl Properties, and SeedCo resulting in the daily market outturn jumping to $3,216 million on a volume of 33.74 million shares against yesterday's $326 935 on 1.536 million shares.

The Industrials Index gained 2.93 or 1.79% to 166.78 with gains in heavyweights OK Zimbabwe, Delta, Inns cor and Old Mutual.

Heavyweight retailer OK Zimbabwe closed amongst the top gainers on the day adding 2c or 11.76% to 19c and SeedCo advanced 5c or 7.69% to 70c.

Blue chips Delta, Innscor and Old Mutual gained 2.38%, 2.52% and 1.60% each to 107.5c, 61c and 254c respectively. Meanwhile, telecoms giant Econet remained stable at 60c.

The Minings Index also gained 0.70 or 2.43% to 29.52 after Hwange closed 9.09% firmer at 6c and Bindura added 0.01c or 0.77% to 1.31c.

Turnall led the top fallers on the market dropping 3c or 75% to 1c while DZLH eased 1.10c or 13.58% to 7c. Cigarette manufacturer BAT closed 4.76% weaker at 1000c.

NicozDiamond dropped 0.10c to 1.2c after a significant bookover of 22.29 million shares in the wake of a joint cautionary statement with ZHL saying the companies are engaged in negotiations for the disposal and acquisition, respectively, of a business, which if successful, may impact on the value of their share..

Fidelity traded unchanged at 7c after reports that the firm has set up a wholly-owned special purpose vehicle ring-fenced for the development and its $5 million bond issue.

The top riser was Hunyanl adding 18.63% to 1.21c and bankers Barclays advanced 0.30c or 8.82% to 3.7c.

Other counters to trade in the green were TSL, Mash and Meikles gaining 6.07%, 4.76% and 2.78% each to 29.7c, 2.2c and 18.5c respectively.

Pearl Properties closed 1.92% firmer at 2.65c.

The Zfn board rebounded with 10 out of the 12 indices closing in the positive while only the Insurance Index dropped 0.93 points or 1.15% to 79.91.

The Datvest All Share Index recovered 1.42 points of 1.26% to 114.46 while the FBC ZSE-10 Index recouped 225 points or 1.92% to 118.95.

The Truworths Retail Index recovered a significant 22.46 points or 9.39% to 261.51 on gains OK Zimbabwe.

- zfn
Tags: ZSE,


Latest News

Latest Published Reports

Latest jobs