Business / Companies
ZSE: Industrials continues to slide on weak blue chips
26 Jun 2013 at 12:38hrs | Views
Heavyweight counters on the ZSE remained weak on Wednesday and dragged the Industrials lower for the 6th straight session as the Constitutional Court was hearing election date extension application this morning.
Agro-industrial based counters were however buoyant after gains in Aico Africa, Colcom, Hippo, Padenga and SeedCo.
Volumes dropped with the daily market turnover closing below the psychological $1 million level at $953 935 on a volume of 3.025 million shares compared with yesterday's $2,984 million on 12.02 million shares.
The Industrials Index dropped 0.81 points or 0.36% to 214.43 largely weighed down by losses in Delta and Innscor. There were no movements in the resources sector with the Minings Index closing stable at 73.29.
There were no buyers but many sellers in Delta which lost 2c to 146c after a lone buyer decided to book over about 500 000 shares having been challenged all the way down from 148c.
Innscor was 0.50c weaker at 90.5c after uninspiring trades worth approximately $36 000 while Econet remained stable in paltry deals worth just $694.
Dual listed counters Old Mutual and PPC dropped 6c each to 230c and 245c respectively. Tourism counter African Sun was 0.30c weaker at 2c ahead of its interims and analysts briefing this afternoon.
Other notable counters to trade lower were NTS, 0.22c down to 2.1 c and NMB which lost 0.50c to 8.5c. ZBFH was 0.05c weaker at 10.5c.
On the upside Afdis added 1c to 32c a new all-time high while Aico Africa, which renewed its cautionaiy statement today, added 0.19c to 7.5c ahead of the release of its finals on Friday.
BATs resurgence continued with the cigarette manufacturer adding 21c to 931c another record breaking level.
Bankers CBZ recovered 0.10c to 13.5c while Colcom was 2.50c better at 30c. Hippo added 5c to 115c.
Meikles, which has concluded preparations to set up a mining unit and plans to kick start operations next year, advanced 0.30c to 31.3c.
OK Zimbabwe recovered 0.04c to 22.03c ahead of its record date of 0.60c this Friday.
The Zfn board was largely in the red with the Datvest All Share Index losing 0.14 points or 0.10% to 143.69 and the FBC ZSE-10 Index shedding 0.50 points or 0.31% to 147.77.
Padenga was 0.70c firmer at 6.6c and looked stronger with buyers still looking at the same price. SeedCo closed 0.40c up at 80.4c.
Pioneer led the top risers after adding 3c or 60% to 8c ahead of its AGM tomorrow. Turnall picked up 0.50c to 5.5c.
The Zfn board was largely in the red with the Datvest All ZSE-10 Index shedding 0.50 points or 0.34% to 147.77.
The Agri-Industrial Index was the best performing sector adding 2.95 points or 3.75% to 81.84 while the rebound in OK Zimbabwe shares helped the Truworths Retail Index recover 0.45 points or 0.15% to 302.08.
Agro-industrial based counters were however buoyant after gains in Aico Africa, Colcom, Hippo, Padenga and SeedCo.
Volumes dropped with the daily market turnover closing below the psychological $1 million level at $953 935 on a volume of 3.025 million shares compared with yesterday's $2,984 million on 12.02 million shares.
The Industrials Index dropped 0.81 points or 0.36% to 214.43 largely weighed down by losses in Delta and Innscor. There were no movements in the resources sector with the Minings Index closing stable at 73.29.
There were no buyers but many sellers in Delta which lost 2c to 146c after a lone buyer decided to book over about 500 000 shares having been challenged all the way down from 148c.
Innscor was 0.50c weaker at 90.5c after uninspiring trades worth approximately $36 000 while Econet remained stable in paltry deals worth just $694.
Dual listed counters Old Mutual and PPC dropped 6c each to 230c and 245c respectively. Tourism counter African Sun was 0.30c weaker at 2c ahead of its interims and analysts briefing this afternoon.
Other notable counters to trade lower were NTS, 0.22c down to 2.1 c and NMB which lost 0.50c to 8.5c. ZBFH was 0.05c weaker at 10.5c.
On the upside Afdis added 1c to 32c a new all-time high while Aico Africa, which renewed its cautionaiy statement today, added 0.19c to 7.5c ahead of the release of its finals on Friday.
Bankers CBZ recovered 0.10c to 13.5c while Colcom was 2.50c better at 30c. Hippo added 5c to 115c.
Meikles, which has concluded preparations to set up a mining unit and plans to kick start operations next year, advanced 0.30c to 31.3c.
OK Zimbabwe recovered 0.04c to 22.03c ahead of its record date of 0.60c this Friday.
The Zfn board was largely in the red with the Datvest All Share Index losing 0.14 points or 0.10% to 143.69 and the FBC ZSE-10 Index shedding 0.50 points or 0.31% to 147.77.
Padenga was 0.70c firmer at 6.6c and looked stronger with buyers still looking at the same price. SeedCo closed 0.40c up at 80.4c.
Pioneer led the top risers after adding 3c or 60% to 8c ahead of its AGM tomorrow. Turnall picked up 0.50c to 5.5c.
The Zfn board was largely in the red with the Datvest All ZSE-10 Index shedding 0.50 points or 0.34% to 147.77.
The Agri-Industrial Index was the best performing sector adding 2.95 points or 3.75% to 81.84 while the rebound in OK Zimbabwe shares helped the Truworths Retail Index recover 0.45 points or 0.15% to 302.08.
Source - zfn
