Industrials snaps record run on losses in blue chips

Published: 17 July 2013

Heavyweight counters Delta, Econet and Hippo fell on Wednesday to snap the Industrials' 10-day record making run streak as the markets protagonists were mostly selling to recoup profits.

The Industrials Index dropped 0.76 points or 0.33% to 226.20 trimming its gains in the year to 48.43%.

The Minings Index closed 1.63 points or 2.36% lower at 67.47 as Falgold was offered lower at 10c compared with its last trading price of 12c. RioZim remained stable at 40c.

Volumes remained reasonable with total market turnover closing at $3,281 million on a volume of 18.164 million shares compared with $5,516 million on a volume of 12.260 million shares that traded yesterday.

Delta dropped 2c to 148c after protracted trades that saw deals at 150c challenged all the way down to 148c. Delta remained sellers at the same price while buyers were stuck at 145c.

Telecoms giant Econet eased a modest 0.03c to 68c and remained sellers at the same price with no buyers on the board. Hippo was 1 c weaker at 104c while SeedCo dropped 1c back to 81c.

There were gains however in Innscor, 1c up at 106c and OK Zimbabwe 0.01 c firmer at 27.01 c but these failed to cancel out the above losses.

Cafca led the top risers on the day, adding 5c or 16.67% to 35c and Mash picked up 0.40c or 13.33% to 3.4c.

Other top risers, NMB added 1c or 10% to 11c and Pearl Properties gained 0.13c or 4.23% to 3.2c. Willdale advanced 0.01 c or 3.03% to0.34c.

Pioneer picked up 0.20c or 2.35% to 8.7c while Padenga traded 0.15c or 1.86% firmer at 8.2c.

Also on the downside DZHL eased 0.01 or 0.04% to 23 while Star Africa closed 1c buyers only ahead of its AGM on Friday

The benchmark Datvest All Share Index dropped 0.21 points or 0.14% to 151.20 while the heavyweight's measure, the FBC ZSE-10 Index was 0.76 points or 0.48% lower at 157.01.

The Property Index however was 7.64 points or 6.67% firmer at 12226 as property counters Mash and Pearl Properties traded on the upside.
- zfn