Published: 05 September 2013

ZSE's Industrials were back in the red on Thursday after reversing yesterday's gains in another uninspiring trading session where only one counter managed to trade in the positive while 6 were in the red out of the 16 counters that traded.

The Industrials Index dropped 0.61 points or 0.34% to 176.99 dragged by losses recorded in Hippo, OK Zimbabwe and Turnall.

Daily market turnover closed below the psychologically - important $1 million level at $806 000 on a volume of 3.421 million shares From yesterday's $3,311 million on a volume of 6.98? million shares.

Hippo traded 5c or 4.55% weaker at 105c while OK Zimbabwe eased a marginal 0.01c or 0.05% to 21c.

Hunyanl led the top losers on the market, shedding 0.50c or 16.67% to 2.5c while Turnall dropped 0.49c or 10.91% to 4c.

Heavyweight counters were largely unchanged from previous levels with Delta trading stable at 105.02c and remained buyers only at the same price with no sellers on the board and a pathetic number of shares trading.

Econet was also unchanged at 48c but recorded the most significant volume on the day of 791 196 shares worth $379 774.

Innscor was unchanged at 80c after reporting finals to June yesterday which group CE John Koumides said he was "not happy with the results" although the group made a profit The conglomerate also declared a final dividend of 1 c.

Colcom remained buyers and sellers only at 23c and 25c respectively after publishing a "disappointing result" for the year to June but management said a number of processes have been undertaken to re-energise the business.

Natfoods was also buyers and sellers only at 215c and 230c alter reporting "a good set of financial results" for the year which management said was assisted by increased capacity utilisation as Is strategy to "fix, optimise and grow" gained traction in all core categories". A final dividend of 3c was declared up from 1.55c last year.

The Minings Index remained stable at 46.78 points with no activity recorded in the mining counters.

Meikles is the only counter which traded in the green advancing 0.50c or 1.75% to 29c.

Tourism counters were all in the red with RTG easing 0.05c or 3.70% to 1.3c while African Sun dropped 0.05c or 2.44% to 2c.

Zimplow closed buyers and sellers only at 3c and 4.5c respectively after group CEO Zondi Kumwenda told an analyst briefing yesterday that the firm is experiencing hardships in debt collection and the bulk of their debtors are seated with Farmec and Barzem.

The Datvest All Share Index dropped 0.33 points or 028% to 118.43 while the FBC ZSE-10 Index was 0.32 points or 0.26% weaker at 120.53.

The Conglomerates Index was the only sector to manage gains on the Zfn board after adding 0.14 points or 0.20% to 69.78 on gains in Meikles.
- zfn