Industrials falter as daily turnover jumps

Industrials falter as daily turnover jumps
Published: 10 March 2014
ZSE's daily turnover jumped to $5 million on Monday spurred by a bookover of about 5 million shares in Econet by brokers Imara as Industrials see-sawed back into the red.

Daily market value traded jumped to second best level for 2014 of $4,999 million on a volume of 11.16 million shares from Friday's S3.563 million on 88.50 million shares. The best level for 2014 remains the $22.26 million on January 29.

Econet traded unchanged at 67c with 5.107 million shares worth $3,422 million exchanging hands in the telecoms counter.

Other meaningful volumes were traded in Delta which eased 0.20c to 122.4c in deals worth $307 903, Meikles was up 0.01c to 17.01c in volumes worth S191 535 and OK Zimbabwe remained stable at 17c in deals worth S616 261. TSL and SeedCo traded unchanged at 37.5c and 90c each in trades worth $245 756 and $150 147 respectively.

Across the floor falters outnumbered risers by 6 to 4 with losses in blue chips BAT, Delta and Innscor dragging the mainstream Industrials Index 1.12 points or 0.59% down at 187.81.

BAT dropped 100c to 1200c while Innscor was 1c weaker at 74c. BAT has its final dividend record date next week Friday while Innscor has its interim dividend record date Friday March 21.

The Minings Index closed unchanged at Friday's level of 34.36 as no activity was recorded in the resources sector.

NMB led the fallers after dropping 1c or 20% to 4c while ZHL ended 0.10c weaker at 1c. Bankers FBC, which is expected to release December finals anytime soon, dropped 0.20c to 13c.

On the upside. Cottco led the risers after advancing 0.10c to 1.2c while DZLH added a modest 0.01c to 13.9c. FML was 0.25c up at 10.5c.

The Zfn board opened the week largely in the red with the benchmark Datvest All Share Index losing 0.76 points or 0.59% to 127.15 while the FBC ZSE-10 Index was 0.91 points or 0.68% weaker at 134.46.

Only 2 indices managed gains on the sectoral board with the Insurance Index rising 0.29 points or 0.27% to 107.55 on gains in FML while the Agri-Industrial Index closed 0.25% better at 67.24 helped by gains in Cottco.
- zfn

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