ZSE shares end week back in the red

Published: 30 August 2013

ZSE shares ended the week back in the red as both indices continued to swing ahead of the opening of the 8th Parliament next Tuesday to pave way for the appointment of Cabinet

The Industrials Index eased 0.50 points or 0.27% to 181.67 as losses in heavyweight counters Delta, Innscor and OK Zimbabwe managed to cancel out gains in telecoms giant Econet.

Econet closed as one of the top 5 risers, gaining 1c or 2.08% to 49c while OK Zimbabwe traded 1c or 4.55% weaker at 21c as one of the top 5 losers on the market.

Blue chip Delta eased a marginal 0.01c or 0.01% to 109.99c while Innscor dropped 1.40c or 1.68% to 82c.

The Minings Index eased 1.96 points or 3.87% to 48.73 as Hwange closed buyers only at 9c against yesterday's trading price at 11c while RioZim's offer was brought down to 25c from 30c yesterday.

Daily market turnover improved to $1,907 million on a volume of 91.394 million shares spurred by a special bargain of 85.5 million Art shares pushed through by EFE Securities. Yesterday's turnover was $1,544 million on a volume of 4.089 million shares.

Interfresh closed offers only at 1c as brokers Old Mutual Securities pushed through a special bargain of 753 212 shares at 2c.

Weekly market turnover dosed lower at $7,554 million on a volume of 111.5 million shares against last week's $8,844 million on a volume of 37.99 million shares.

FML led the top gainers on the market, advancing 0.59c or 5.13% to 12.1c while RTG gained 0.04c or 3.05% to 1.35c. Mash added 0.02c or 0.67% to 3.02c.

SeedCo closed buyers 72c and sellers 80c only after the firm announced that they are optimistic about the forthcoming agriculture season as they expect the new government to pursue pro-agriculture policies.

Top faller on the day was DZHL shedding 2c or 10% to 18c while Zimpapers eased 0.10c or 9.09% to 1c. African Sun dropped 0.15c or 7.32% to 1.9c. Bankers CBZ traded 0.50c or 3.57% weaker at 13.5c.

Aico Africa traded unchanged at 4.5c ahead of its AGM this afternoon.

Star Africa traded unchanged as well at 1c after CEO Sam Mushiri told an AGM yesterday that Gold Star sugar volumes were adversely affected by cheap imports which have flooded the market.

NMB closed buyers only at 6c after CE James Mushore told an analyst briefing yesterday that the bank will continue to focus on reducing the non-performing loans (NPLs) which are currently at 22.8% of loan book.

The Datvest All Share Index was 0.27 points or 0.23% weaker at 121.33 while the FBC ZSE-10 Index eased 0.08 points or 0.07% to 123.61.

There were only 2 indices on the Zfn board to close in the positive with the Insurance Index adding 3.67 points or 3.10% to 122.00 while the Property Index picked up 0.31 points or 0.29% to 106.94.
- zfn