ZSE Industrials stays in the negative territory

Published: 02 September 2013

There was not a single counter to trade in the positive territory during Monday's dull trading session where 4 counters closed in the red out of only 9 that recorded trades.

The Industrials Index eased 1.36 points or 0.75% to 180.31 as heavy selling continued in Delta amid indications the price is trending down to 100c.

Blue-chip Delta eased 1.99c or 1.81% to 108c, which is now 3121 % down on its all-time best of 157c.

Econet traded unchanged at 49c while Innscor closed buyers and sellers only at 80c and 82c respectively ahead of the release of its finals midweek. OK Zimbabwe ended buyers at 18c and sellers at 22c.

The Minings Index was stable at 48.73 with no activity in the mining counters.

Daily market turnover dropped to $939475 on a volume of 2.823 million shares against last Friday's $1,907 million on a volume of 91.394 million shares.

Bankers NMB led the top fellers on the market, shedding 1c or 12.50% to 7c while CBZ eased 0.50c or 3.70% to 13c.

Aico Africa dropped 0.50c or 11.11 % to 4c after publishing a profit warning statement saying the cotton buying season is coming to an end and it is apparent that the level of cotton production this year was much lower than prior years and the company wil post a loss for the year to March 31 2014 that is substantially higher than the loss recorded in the year to March 2013.

Art, FML, NicozDiamond, Pelhams and PG Industries did not make any trades on the market after reports that they were listed amongst the 100 companies that were issued a 14-day ultimatum by the National Indigenisation and Economic Empowerment Board to apply for certification or face being classified as non-compliant with the Indigenisation and Economic Empowerment Act

There were 5 sectors that recorded activity on the Zfn board all of them ending in the red with the Datvest All Share Index losing 0.79 points or 0.65% to 120.55 while the FBC ZSE-10 Index was 0.79 points or 0.64% weaker at 122.82.

The Manufacturing Index dropped 2.66 points or 123% to 213.69 while the Allied Bank Banking Index was 1.55% lower at
- zfn