Business / Companies
ZSE Industrials sets another record level
17 May 2013 at 11:19hrs | Views
ZSE's Industrials closed above the 210.00 mark for the first time on Friday as Delta shares ended at another record high of 143.01c to extend the momentum built up over the past 2 weeks while daily market turnover jumped to $7,988 million.
A block deal of 6.910 million Innscor shares worth $6,427 million by brokers IH Securities helped the daily total market turnover to rise to the best level so far in 2013 surpassing the $5,901 million reached on February 6. Innscor traded unchanged at 93c.
Daily market turnover thus significantly improved to $7,988 million on a volume of 11.52 million shares with substantial values traded in Econet ($983 548) and Innscor ($6,424 million).
Weekly turnover improved to $13.95 million on a volume of 39.71 million shares from last week's $5,801 million on 23.71 million shares.
The Industrials Index closed at a new record level of 21029 points after gaining 3.45 or 1.67% buoyed by gains blue chip counters, Delta and OK Zimbabwe.
Delta added a significant 6/91c to close at an all-time high of 143.01c after reporting upbeat March finals where revenues were driven by premium lagers while efficiencies buoyed the group's operating margins.
OK Zimbabwe, which is currently running its Grand Challenge promotion added 0.99c to another record level of 29c. Econet however closed the day as one of the top 5 losers on the day after dropping 1.02c or 1.44% to 70c.
The Minings Index also closed in the green gaining 0.72 or 0.96% to 75.56 points as Hwange and RioZim made it in the top 5 risers after adding 6.67% and 6.38% each to 16c and 50c respectively. However, Bindura eased 0.10c or 3.33% to 2.90c.
The top riser on the marker was Turnall which gained 0.50c or 11.11 % to 5c. Fidelity Life added 1 c to 12c and Masimba was 9.09% firmer at 6c.
BAT advanced 10c or 1.25% to another fresh high of 810c while CFI traded 4% higher at 5.2c. Other counters to close in the green were Afre, Astra and TA Holdings which gained 0.70c, 0.10c and 0.50c each to 13c, 5c and 10c respectively.
Top faller on the day was Aico Africa dropping 1c or 11.11% to 8c while Star Africa traded 5.88% weaker at 1.6c. Art eased 0.03c or 4.76% to 0.60c. Dual listed Old Mutual eased 2c or 0.83% to 240c.
Edgars traded unchanged at 12.2c after reports that Global electronics manufacturer LG Electronics has partnered with the firm in distributing its products as ft continues to increase its market footprint in the country.
Bankers CBZ added 0.05c or 0.36% to 13.85c while FBC traded unchanged at 8c amid reports that US investment management firm Consilium Investment Management has acquired a 4% stake in FBC Holdings.
The Datvest All Share Index added 2.02 points or 1.43% to 142.98 while the blue chips measure, the FBC ZSE-10 Index advanced 2.60 points or 1.73% to 152.44 and is almost 50% up since January this year.
The Manufacturing Index added 9.72 points or 3.88% to 259.96 taking its gains this year to date to 55.92% while the Insurance Index was 4.97% firmer at 129.65.
The Truworths Retail Index advanced 11.09 points or 3.01% to 379.39 and remains the best performing sector this year up 88.24% since January.
Meanwhile, there are reports saying stockbrokers have expressed concern with a clause in the new Securities Amendment Bill, passed in the lower house of Parliament this week, relating to the corpus of the investor protection fund amid tears it could increase operational costs.
A block deal of 6.910 million Innscor shares worth $6,427 million by brokers IH Securities helped the daily total market turnover to rise to the best level so far in 2013 surpassing the $5,901 million reached on February 6. Innscor traded unchanged at 93c.
Daily market turnover thus significantly improved to $7,988 million on a volume of 11.52 million shares with substantial values traded in Econet ($983 548) and Innscor ($6,424 million).
Weekly turnover improved to $13.95 million on a volume of 39.71 million shares from last week's $5,801 million on 23.71 million shares.
The Industrials Index closed at a new record level of 21029 points after gaining 3.45 or 1.67% buoyed by gains blue chip counters, Delta and OK Zimbabwe.
Delta added a significant 6/91c to close at an all-time high of 143.01c after reporting upbeat March finals where revenues were driven by premium lagers while efficiencies buoyed the group's operating margins.
OK Zimbabwe, which is currently running its Grand Challenge promotion added 0.99c to another record level of 29c. Econet however closed the day as one of the top 5 losers on the day after dropping 1.02c or 1.44% to 70c.
The Minings Index also closed in the green gaining 0.72 or 0.96% to 75.56 points as Hwange and RioZim made it in the top 5 risers after adding 6.67% and 6.38% each to 16c and 50c respectively. However, Bindura eased 0.10c or 3.33% to 2.90c.
The top riser on the marker was Turnall which gained 0.50c or 11.11 % to 5c. Fidelity Life added 1 c to 12c and Masimba was 9.09% firmer at 6c.
BAT advanced 10c or 1.25% to another fresh high of 810c while CFI traded 4% higher at 5.2c. Other counters to close in the green were Afre, Astra and TA Holdings which gained 0.70c, 0.10c and 0.50c each to 13c, 5c and 10c respectively.
Top faller on the day was Aico Africa dropping 1c or 11.11% to 8c while Star Africa traded 5.88% weaker at 1.6c. Art eased 0.03c or 4.76% to 0.60c. Dual listed Old Mutual eased 2c or 0.83% to 240c.
Edgars traded unchanged at 12.2c after reports that Global electronics manufacturer LG Electronics has partnered with the firm in distributing its products as ft continues to increase its market footprint in the country.
Bankers CBZ added 0.05c or 0.36% to 13.85c while FBC traded unchanged at 8c amid reports that US investment management firm Consilium Investment Management has acquired a 4% stake in FBC Holdings.
The Datvest All Share Index added 2.02 points or 1.43% to 142.98 while the blue chips measure, the FBC ZSE-10 Index advanced 2.60 points or 1.73% to 152.44 and is almost 50% up since January this year.
The Manufacturing Index added 9.72 points or 3.88% to 259.96 taking its gains this year to date to 55.92% while the Insurance Index was 4.97% firmer at 129.65.
The Truworths Retail Index advanced 11.09 points or 3.01% to 379.39 and remains the best performing sector this year up 88.24% since January.
Meanwhile, there are reports saying stockbrokers have expressed concern with a clause in the new Securities Amendment Bill, passed in the lower house of Parliament this week, relating to the corpus of the investor protection fund amid tears it could increase operational costs.
Source - zfn
