Industrials edges higher in mixed trades

Industrials edges higher in mixed trades
Published: 26 May 2014
ZSE's Industrials edged higher on Friday in largely mixed trades while Minings also closed in the positive territory for the third consecutive session.

The Industrials Index gained 0.75 points or 0.44% to 172.40 as heavyweights Econet, BAT and TSL closed higher while Hippo, Innscor and Seedco traded on the downside.

Heavyweight counters were largely mixed with telecoms giant Econet adding 0.02c or 0.03% to 64.03c while cigarette manufacturer BAT traded 2.44% firmer at 1050c. TSL picked 1c or 3.57% to 29c.

Other blue chips Delta and OK Zimbabwe remained stable at 115c and 18c respectively. Meanwhile, conglomerate Innscor eased a marginal 0.01 % to 69c.

Hippo and Seedco both closed amongst the top 5 fallers on the day, shedding 1c each to 55c and 70c respectively.

The Minings Index also gained 0.12 or 0.42% to 28.81 after coal miner Hwange advanced 0.10c or 2% to 5.1 c while Falgold remained stable at 3c.

Daily market turnover significantly increased to $2.689mln on a volume of 7.936mln shares as brokers Imara executed a special bargain of 2.047mln Delta shares worth $2.354mln at 115c each. Yesterday's turnover was $294 000 on 5.2mln shares.

Weekly turnover improved to $10.584mln after 72.2mln shares exchanged hands as compared to last week's $7.098m on a volume of 31.61 million shares.

Art led the top risers adding 0.10c or 33.33% to 0.40c while DZLH gained 1.30c or 16.25% to 9.30c. ZPI and ZHL picked 0.10c each to 0.85c and 0.90c respectively.

FML traded 8.33% firmer at 6.50c and cement manufacturer PPC advanced 1c to 205c while bankers FBC gained 0.50c or 4.55% to 11.5c.

Padenga recorded a 1.31% increase of 0.10c to 7.75c.

Top loser on the day was Turnall which dropped 1c or 33.33% to 2c while Star Africa eased 0.06c or 7.06% to 0.79c and clothing retailer Edgars closed 0.83% weaker at 12c.

The Datvest All Share Index climbed 0.31 points or 0.26% to end at 119.38 while the FBC ZSE-10 Index advanced 0.16 points or 0.13% at 124.63.

The Insurance Index was the top riser after adding 4.38 points or 6.16% closing at 75.52 on the back of gains in ZHL (+12.5%) and FML (+8.33%).

Only 2 sectors closed in the negative namely Agro-Industrial Index (-0.95%) and Retail Index (-0.11%).
- zfn

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