ZSE shares rise again

Published: 24 April 2014

Renewed interest in selected heavyweight counters on Thursday helped ZSE shares to stay in the recovery mode for the second straight session as 2 special deals in SeedCo shares spurred the market's daily outturn to its second best level for 2014 of $13.27 million.

There was notable interest in blue chips Delta, Econet and Innscor but the highlight of the day was the 2 separate special deals of SeedCo shares worth $12.67 million.

Brokers IH Securities were the main actors as they first pushed through a special bargain of 7.149 million SeedCo shares together with brokers Imara at 99.25c, which is a 41.79% premium on the last trading price of 70c. IH also executed another special bargain of 5.872 million shares at 95c, a 35.71 % premium on the last trading price.

In normal trades SeedCo closed buyers only at 70c.

Today's daily market turnover jumped to $13.27 million, the second best level this year so far while the best remains the January 29 level pf $22.26 million. Yesterday's turnover closed at $3,216 million on a volume of 33.74 million shares.

The Industrials Index gained 2.88 points or 1.73% to 169.66 as heavyweights Delta, Econet and Innscor recorded gains while only 3 counters dosed in the red.

Delta added 3.56c or 3.31 % to 111.06c while blue chips Econet and Innscor advanced 1.67% and 1.64% each to 61c and 62c respectively. Meanwhile, heavyweight retailer OK Zimbabwe closed buyers and sellers only at 19c and 20c respectively.

The Minings Index also gained 0.36 or 1.22% to 29.88 with gains in nickel miner Bindura, closing 3.05% firmer at 1.35c.

Turnall led the top risers on the day, adding back 2c or 200% to 3c while Mash added 0.30c or 13.64% to 2.50c. Cottco gained 0.10c or 12.50% to 0.90c.

Bankers ABC closed 7.14% firmer at 75c and TSL advanced 0.11c or 0.37% to 29.81c.

Willdale closed buyers only at 0.1c after reports that businessman Ray Kaukonde has increased his shareholding in brick maker ahead of the recapitalisation of the group.

The top feler was Art, easing 0.30c or 75% to 0.10c while Masimba and Dawn dropped 2c and 0.01 c each to 1c and 0.80c respectively.

The Zfn board also stayed in the recovery mode with the Datvest All Share Index rising 2.11 points or 1.85% to 116.68 while the FBC ZSE-10 Index was 2.12 points or 1.78% firmer at 121.07
- zfn