Industrials rises for the 5th straight session

Published: 09 July 2013

Investors continued to buy into selected stocks on Tuesday with notable interest in counters BAT, Delta and Innscor helping the mainstream Industrials to rise for the 5th straight session while Minings continue to wallow in the red.

The Industrials Index gained 1.90 points or 0.88% to 218.11 largely on gains recorded in heavyweights Delta and Innscor.

Delta added 2.05c or 1.45% to 143.05c while Innscor advanced 1c or 1.06% to 95.51c. Both Delta and Innscor closed with buyers at 143c and 95.5c respectively with no sellers on the board.

BAT remained strong after advancing a massive 75c to close at $12,75c another record high taking its gains in the year to 254.2%.

Other blue chips Econet and OK Zimbabwe traded unchanged at 67.11c and 25c respectively.

The Minings Index eased 1.96 or 2.86% to 66.57 points on losses in RioZim which closed as one of the top 5 losers dropping 5c or 11.11% to 40c. Today's loss trims the resources sector gains in the year to just 223%.

Daily market turnover slightly improved to $1,611 million on a volume of 8.038 million shares compared with yesterday's $1,131 million on a volume of 5.072 million shares.

Bankers, FBC led the top risers adding 1c or 8.33% to 13c while clothing retailer Edgars added 0.49c to 13.99c. Property counter Mash was 0.05c firmer at 2.85c.

CBZ also closed amongst the top 5 risers on the market gaining 0.42c or 3.07% to 14.12c after reports that the bank was awarded the financial institutions award (gold category 2013) in recognition of its exceptional contribution to the work of the African Export Import Bank (Afreximbank).

ABC recorded a marginal 0.02% increase of 0.01c to 50.01c.

Top faller of the day was PG Industries dropping 0.30c or 42.86% to 0.40c while RTG eased 0.19c or 14.07% to 1.16c. Aico Africa closed 13.04% weaker at 6c and Dawn dropped 0.01c or 0.99% to 1c.

The Datvest All Share Index advanced 1.05 points or 0.73% to 146.18 while the heavyweight's measure, the FBC ZSE-10 Index added 1.49 points or 0.99% to 151.94.

The Allied Bank Banking Index was the top performing sector on the day after adding 1.64 points or 2.03% to 82.33.
- zfn