Industrials end week in the positive

Published: 25 April 2014

ZSE's Industrials closed the holiday shortened week in the positive driven by gains in blue chips Innscor, OK Zimbabwe and SeedCo.

Activity across the board however slowed as compared with the past 2 sessions with the daily market outturn closing at $1.21 million on a volume of 10.24 million shares against yesterday's $13.27 million on 17.04 million shares.

The market witnessed another special bargain in 5.151 million DZLH shares pushed through by brokers EFE Securities at 8.1c.

Weekly market turnover improved to $18.03 million on a volume of 62.56 million shares against last Thursday's $10.59 million on 68.93 million shares.

The Industrials Index gained 0.68 points or 0.40% to 170.34 while week on week the mainstream index recovered 3.37%.

Heavyweight retailer OK Zimbabwe added 1c or 5.26% to 20c while conglomerate Innscor advanced 0.50c or 0.81% to 62.5c.

SeedCo led the top risers adding 5.51c or 7.87% to 75.51c following reports that the firm completed its transaction with Vilmorin & Cie after a special deal worth just above $7 million was pushed through during ZSE trades yesterday.

Blue chips trading on the downside were Delta which dropped a marginal 0.06c or 0.05% to 111c while its subsidiary Afdis closed 7.14% weaker at 32.5c. Hippo lost 0.50c or 0.81% to 61c while bankers ABC dropped 5c or 6.67% to 70c.

Econet remained stable at 61c amid reports that the telecoms giant has entered into a commercial arrangement with global money transfer agency Western Union that will enable people to send money from abroad to account holders of its mobile money transfer platform EcoCash.

The Minings Index remained stable at 29.88 as Bindura traded unchanged at 1.35c.

Other counters to trade in the positive were Meikles and Pearl Properties added 0.54% and 3.77% to 18.6c and 2.75c respectively.

Clothing retailer Truworths led the top fallers, shedding 1.99c or 57.02% to 1.5c, its lowest level in 52 weeks.

TA Holdings dosed buyers and sellers only at 6c and 7c after publishing a profit warning statement saying the group recognised an impairment charge against its investment in associate, Sable Chemical Industries and will report a loss for the year ended December 31 2013.

The Datvest All Share Index also stayed in the positive after gaining 0.05 points or 0.04% to 116.63 while the FBC ZSE-10 Index closed 0.63% up at 121.83.
- zfn