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ZSE Market Report:- Industrials uptrend continues to hold as Minings stutters

by Business reporter
23 Jan 2013 at 10:16hrs | Views
ZSE's Industrials uptrend continued to hold on Wednesday and has held the upward trend since January 3 with heavyweight counters largely in favour.

The Industrials Index added 1.04 points or 0.65% to close at 167.52 resulting in its gains since January 1 rising to 9.90% whilst Minings Index eased 1.17 points or 1.51% to 76.19 as RioZim dropped 2.99c to 55c.

Total transaction value slightly eased to $1,414 million on a volume of 2.879 million shares from yesterday's $1,632 million on a volume of 10.04 million shares.

Blue chip counter Delta remained buoyant in the wake of positive trading update adding 0.49c to another all-time high of 115.5c while Econet remained stable at 520c.

Innscor picked up another 1c to trade at its previous all-time high of 81c in spite of reports that government is mounting pressure on the conglomerate to comply with the indigenisation law.

Meikles advanced another 0.77c to 21.9c as the market continues to speculate on the company's reported involvement in diamond mining activities in Chiadzwa.

Retailer OK Zimbabwe shares added a modest 0.06c to 15.66c while bankers CBZ was 0.11c up at 10.11c. Cement maker Lafarge was the day's top riser after adding 10c to 70c and remains buyers at the same price.

There were only 3 counters to trade lower across the board with dual listed Old Mutual easing a modest 0.01c to 174c whilst Padenga lost a marginal 0.01c to 4.7c.

The Datvest All Share Index, which has now done 9.87% since January 1, was 0.47% up at 110.85 whilst the heavyweights' measure, the FBC ZSE-10 Index was 0.33% firmer at 114.60 taking its gains this year to date to 12.53%. Year on year the DASI is up 18.74% while the FBC ZSE-10 is 28.81% in the green. 

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Source - zfn
More on: #ZSE, #Industrials