ZSE Industrials snaps its 10-day rising streak

Published: 08 May 2014

ZSE's Industrials snapped its 10-day rising streak on Thursday after giving in largely to losses in blue chips Delta and Econet.

Daily market outturn however managed to close above $2 million after a significant parcel of Econet shares that was reversed yesterday were pushed through during today's session.

Thus daily market turnover closed at $2,431 million on a volume of 4.752 million shares buoyed by significant volumes valued at $1,374 million trading in Econet.

The Industrials Index eased 0.76 or 0.43% to 176.93 as heavyweights Delta, OK Zimbabwe and Econet traded lower.

Blue chip Delta dropped 1 c or 0.83% to 119c while Econet eased 0.51c or 0.76% to 66.49c. Heavyweight retailer OK Zimbabwe closed 2.01 % weaker at 19.5c and conglomerate Innscor traded unchanged at 66c.

The Minings Index remained stable at 29.03 as RioZim closed unchanged at 20c.

The top riser on the market was Star Africa which added 0.10c or 14.29% to 0.80c while DZLH gained 11.23% to 9.01 c. FML closed 7.69% firmer at 7c.

African Sun gained 4% to 2.60c while Padenga advanced 0.17c or 2.39% to 7.27c. Bankers Barclays added 0.05c to 3.55c while Meikles and PPC gained 2.21% and 1.49% each to 18.5c or 205c respectively.

Fidelity Life remained stable at 7c after reports that Finance and Economic Development minister Patrick Chinamasa says the total value of Fidelity Life's "low-cost" South view Park housing project after the completion of houses, churches and other social amenities could reach $190 million.

Ariston led the top faller on the day dropping 0.10c or 10% to0.90c while TA Holdings eased 7.69% to 6c and bankers FBC closed 3.13% weaker at 12.40c.

Clothing retaier Edgars closed buyers and sellers only at 12c and 12.5c after setting their AGM for Thursday May 29.

The Datvest All Share Index also waded into the red after losing 0.48 points or 0.39% to close at 121.63 while the FBC ZSE-10 Index ended 0.81 points or 0.63% down at 128.60.

Gains in FML however helped the Insurance Index to rise by 3.11 points or 4.12% to 78.64 the Tourism Index recovered 0.48 points or 1.84% to 26.79 following positive trades in African Sun.

Meanwhile Chemco has been delisted from the official list with effect from today.
- zfn