Industrials further falters

Published: 26 May 2014

ZSE's Industrials stayed in the red on Wednesday as heavily capitalised counter Delta traded lower together with Econet whose SB pushed up turnover.

A special bargain of 6.243million Econet shares (worth $4.058million) executed by brokers Imara at 65c saw the total market outturn improving to $5.137million from yesterday's $1.214million while the number of shares trading rose to24.94million from 18.34 million.

The Industrials Index eased 1.12 points or 0.65% to 170.54 with losses in heavyweights Delta and Econet while OK Zimbabwe remained stable and Innscor traded higher.

Blue chip Delta dropped 2c or 1.74% to 113c and Econet eased 0.49c or 0.76% to 64c after reports that the telecoms giant has questioned the use of the Universal Services Fund being administered by the Postal and Telecommunication Regulatory Authority of Zimbabwe, putting into sharp focus the regulators' accountability.

Conglomerate Innscor added a marginal 0.01% to 68.01c as its associate Colcom gained 1.36% to 22.30c. Retailer OK Zimbabwe closed unchanged at 18c.

The Minings Index gained 0.36 or 1.28 to 28.42 as Bindura closed amongst the top risers, adding 0.04c or 3.05% to 1.35c. Meanwhile, Falgold closed buyers and sellers only at 3c and 5c respectively after publishing a cautionary statement advising shareholders that the company is currently engaged in discussions on one or more transactions that have a material impact on the value of the company's shares.

Masimba led the top risers, adding 10% to 1.10c while Mash advanced 9.09% to 2.40c. Cement manufacturer PPC added 2.99c or 1.49% to 204c.

The top riser on the day was Zimpapers, shedding 0.30c or 27.27% to 0.80c while ZHL and ZPI eased 11.11 % and 6.25% each to 0.80c and 0.75c respectively.

Cottco dropped 0.05c or 5.88% to 0.80c while Meikles dosed 2.78% weaker at 17.50c.

Index recorded losses after dropping 0.65% and

On the Zfh board, both the Datvest All Share Index and the FBC ZSE-10 0.84% in that order.
- zfn