Published: 06 September 2013

ZSEs mainstream Industrials see-sawed to end the week in the positive territory amid renewed interest in selected counters across the board.

Buyers outnumbered sellers by 53 to 30 on the 65 active counters on the board as buyers slowly trickle back into the market to swoop on bargains.

The Industrials Index gained 4.77 points or 2.70% to 181.76 buoyed by gains in heavyweight counters Delta, Econet, Innscor and OK Zimbabwe.

Blue chip Delta closed as one of the top 5 risers on the market adding 8.08c or 7.69% to 113.1c together with its associate Afdis which advanced 2c or6.67% to 32c. Delta closed buyers at 113.05c with no sellers on the board.

Telecoms giant Econet recorded a 3.13% increase of 1.50c to 49.5c while OK Zimbabwe went 0.19% up to 21.04c. Meanwhile, Innscor added a marginal 0.04c or 0.19% to 80.03c with buyers still looking at the same price while sellers were asking for 81c.

The Minings Index remained stable at 46.78 with RioZim closing 42.86% weaker at 20c.

Daily market turnover improved slightly to $912 717 on a volume of 3.056 million shares against yesterday's $806 000 on a volume of $806 000.

Weekly turnover went down to $7,059 million on a volume of 21.38 million shares compared to last week's $7,554 on a volume of 111.5million shares.

Mash led the top risers on the day advancing 0.40c or 13.25% to 3.42c while clothing retailer Truworths closed 10.70% firmer at 3c. Bankers Barclays recovered 0.20c or 6.25% to 3.4c.

Another counter to close in the green was Pearl Properties which gained 0.10c or 3.45% to 3c ahead of its interims and analysts briefing on Monday.

Zimplow Holdings was amongst the 4 counters which traded on the downside, shedding 0.50c or 12.50% to 3.5c after group CEO Zondi Kumwenda told an analyst briefing on Wednesday that the firm is experiencing hardships in debt collection and the bulk of their debtors are seated with Farmec and Barzem.

Cigarette manufacturer BAT dropped 20c or 2.04% to 960c while Padenga eased 0.10c or 1.69% to 5.8c.

The benchmark Datvest All Share Index recovered a significant 2.53% to 121.43 while the heavyweights' measure, the FBC ZSE-10 Index was 3.90 points or 3.23% firmer at 124.43.

Other notable gains on the Zfn board were recorded h the Property Index which recovered 7.33 points or 6.60% to 118.31 and the Manufacturing Index 1023 points or 4.91% up at 218.35.

Significant losses were however recorded in the Mining Index, down 2.30 or 11.36% to 18.31 after RioZim's 42.86% loss.
- zfn