Business / Companies
ZSE:- Econet, Innscor sustains Industrials winning streak
04 Feb 2013 at 10:58hrs | Views
Econet and Innscor shares advanced to new highs on Monday to sustain Industrials' extended rising streak and managed to cancel out losses in heavyweight Delta.
The Industrials Index advanced 2.53 points or 1.42% to 184.56 pushing this year to date gains to 21.10% while the Minings Index remained stable at 84.07 as Falgold traded unchanged at 16c.
While there is still investors' interest in heavily capitalised counters, focus seems to be shifting towards a few selected second tier counters across the board.
Econet advanced 50c to sail past the $6 mark and closing at $6,10c tor the first time with demand still strong in the telecoms counter. The most optimistic analysts have projected the price to get to $7,10.
Food giant Innscor was also buoyant after rising by 2.99c to 103c in notable trades worth $695 718 taking its market cap to $556.3 million.
Delta eased another 0.93c to close at 124.97c as investors recoup profits made during the price's recent rally. Over 1.2 million shares worth $1,597 million transacted in Delta.
Clothing retailer Edgars was among the favoured counters on the day after rising 0.50c to 10c its best in 52 weeks. Fidelity Life added 1.50c to 14c in paltry trades worth just $24. Another retail counter Pelhams was the day's top riser after adding 0.20c or 200% to 0.2c
NMB was 0.20c firmer at 1c on news that the group had securer 3 foreign investors and also the recent granting of full fungibility status.
Star Africa which remained one of the favoured counters after recent management changes at the company added 0.10c to 1.4c while TSL, which released upbeat financials last week, advanced 0.51c to 13.51c.
Old Mutual and PPC continued to advance after rising 1c and 2c each to 182c and 217c respectively.
Meikles eased another 0.10c to 22c while NTS was 0.30c lower at 2.4c. Other counters on the downside were Trust and Wllldale which lost 0.10c and 0.01c each to 0.2c and 0.04c respectively.
The Datvest All Share Index remained in the positive territory after rising 1.92% to 122.75 while the FBC ZSE-10 Index was 2.27% firmer at 128.44.
Volumes remained significant with a total of 4.009 million shares worth $2,550 million against Friday's $3,915 million on a volume of 10.68 million shares.
The Industrials Index advanced 2.53 points or 1.42% to 184.56 pushing this year to date gains to 21.10% while the Minings Index remained stable at 84.07 as Falgold traded unchanged at 16c.
While there is still investors' interest in heavily capitalised counters, focus seems to be shifting towards a few selected second tier counters across the board.
Econet advanced 50c to sail past the $6 mark and closing at $6,10c tor the first time with demand still strong in the telecoms counter. The most optimistic analysts have projected the price to get to $7,10.
Food giant Innscor was also buoyant after rising by 2.99c to 103c in notable trades worth $695 718 taking its market cap to $556.3 million.
Delta eased another 0.93c to close at 124.97c as investors recoup profits made during the price's recent rally. Over 1.2 million shares worth $1,597 million transacted in Delta.
Clothing retailer Edgars was among the favoured counters on the day after rising 0.50c to 10c its best in 52 weeks. Fidelity Life added 1.50c to 14c in paltry trades worth just $24. Another retail counter Pelhams was the day's top riser after adding 0.20c or 200% to 0.2c
NMB was 0.20c firmer at 1c on news that the group had securer 3 foreign investors and also the recent granting of full fungibility status.
Star Africa which remained one of the favoured counters after recent management changes at the company added 0.10c to 1.4c while TSL, which released upbeat financials last week, advanced 0.51c to 13.51c.
Old Mutual and PPC continued to advance after rising 1c and 2c each to 182c and 217c respectively.
Meikles eased another 0.10c to 22c while NTS was 0.30c lower at 2.4c. Other counters on the downside were Trust and Wllldale which lost 0.10c and 0.01c each to 0.2c and 0.04c respectively.
The Datvest All Share Index remained in the positive territory after rising 1.92% to 122.75 while the FBC ZSE-10 Index was 2.27% firmer at 128.44.
Volumes remained significant with a total of 4.009 million shares worth $2,550 million against Friday's $3,915 million on a volume of 10.68 million shares.
Source - zfn
