Industrials continue recovery at week's opening

Published: 28 April 2014

ZSE's Industrials continued to recover on Monday as investors took the opportunity to buy cheap stocks but volumes tumbled with the daily market turnover closing below the psychological $1 million level.

The Industrials Index gained 0.54 points or 0.32% to 170.88 with heavyweight Delta recording gains together with 9 other counters which closed in the green against four which traded on the downside and 12 unchanged.

Blue chip Delta added 0.50c or 0.45% to 111.5c while Econet, Innscor and OK Zimbabwe closed unchanged at 61c, 62.5c and 20c respectively.

SeedCo advanced 4.49c or 5.95% to 80c and TSL picked 0.64% to 30c. Meanwhile, dual listed Old Mutual dropped 1c or 0.39% to 253c.

The Minings Index remained stable at 29.88 with no activity recorded in the mining counters.

Daily market turnover dropped to $937 097 on a volume of 11.47 million shares from Friday's $1,216 million on a volume of 10.24 million shares.

Clothing retailer Truworths led the top risers adding back 1c or 66.67% to 2.50c while Masimba gained 0.50c or 50% to 1.50c. TA Holdings closed 8.33% firmer at 6.50c and Padenga advanced 7.58% to 7.10c.

DZLH added 0.50c or 7.14% to 7.50c while Meikles and PPC gained 2.15% and 2.44% each to 19c and 210c respectively.

Top losers on the day were led by Colcom which dropped 3c or 12.50% to 21c. Bankers Barclays eased 0.20c or 5.41 % to 3.50c while Mash traded 4% weaker at 2.40c.

Major indices on the Zfh board closed in the positive with the Datvest All Share Index adding 0.39 points or 0.33% to 117.02 while the FBC ZSE-10 Index was 0.41 % up at 122.33.

Only 2 sectors, the Banking Index and the Property Index closed in the red after shedding 0.90% and 1.62% each to 82.32 and 95.42 respectively.
- zfn