Business / Companies
ZSE:- Innscor sustains Industrials at week's opening
15 Apr 2013 at 05:01hrs | Views
Gains in Innscor helped the Industrials manage modest gains on Monday as telecoms blue chip Econet continues to falter.
The Industrials Index ended a marginal 0.11 points or 0.06% up at 188.43 as gains in Innscor and OK Zimbabwe managed to outweigh Econet and Old Mutual losses.
A significant volume of more than 4 million shares worth $828 207 in OK Zimbabwe saw daily market turnover closing little changed at $1,586 million from Friday's $1.610 million.
Innscor added 0.20c to 86.2c while OK Zimbabwe was 0.08c firmer at 18.1c. Innscor's associate company Natfoods remained unchanged at 220c while Delta was also stable at 125c.
Econet dropped 0.81c to 65.99c trimming its gains since January to just 46.6% with the market still waiting for the group's February finals.
Barclays recovered 0.21c to 3.01c as the implementation of the indigenisation laws in the banking sector remains uncertain and shrouded in confusion and discord in government
Other bankers traded on the downside with ABC easing 2c to 53c while CBZ dropped 0.30c to 13.2c.
DZLH added 1c to 27c and remains buyers at the same price after MD Thompson Mabika said the firm will introduce new products this year to widen its product portfolio.
Other notable risers on the day were Meikles which added 2.01c to 22.01c and Radar which recovered 2c to 12c. Masimba Holdings added a modest 0.05c to 2.81c.
Zeco led the day's top risers after adding 0.01 c of 50% to 0.03c taking its gains this year to 200%.
Dual listed Old Mutual and PPC continued to trade lower after losing 2c and 10c each to 230c and 200c respectively.
In Minings, Bindura closed unchanged at 2.8c while RioZim was also stable at 45c after CEO Ashton Ndlovu projected F13 revenues of $185 million from $72 million in F12.
Zimplow was 0.50c weaker at 4c after MD Zondi Kumwenda told shareholders recently that the group will probably achieve an operating profit or at least break-even for the half year.
The Datvest All Share Index however closed 0.20% lower at 128.48 after the number of counters trading lower managed to outweigh those trading on the upside.
The FBC ZSE-10 Index also gave in to losses in Econet and Old Mutual as ft closed 0.40% weaker at 135.86.
The Industrials Index ended a marginal 0.11 points or 0.06% up at 188.43 as gains in Innscor and OK Zimbabwe managed to outweigh Econet and Old Mutual losses.
A significant volume of more than 4 million shares worth $828 207 in OK Zimbabwe saw daily market turnover closing little changed at $1,586 million from Friday's $1.610 million.
Innscor added 0.20c to 86.2c while OK Zimbabwe was 0.08c firmer at 18.1c. Innscor's associate company Natfoods remained unchanged at 220c while Delta was also stable at 125c.
Econet dropped 0.81c to 65.99c trimming its gains since January to just 46.6% with the market still waiting for the group's February finals.
Barclays recovered 0.21c to 3.01c as the implementation of the indigenisation laws in the banking sector remains uncertain and shrouded in confusion and discord in government
Other bankers traded on the downside with ABC easing 2c to 53c while CBZ dropped 0.30c to 13.2c.
Other notable risers on the day were Meikles which added 2.01c to 22.01c and Radar which recovered 2c to 12c. Masimba Holdings added a modest 0.05c to 2.81c.
Zeco led the day's top risers after adding 0.01 c of 50% to 0.03c taking its gains this year to 200%.
Dual listed Old Mutual and PPC continued to trade lower after losing 2c and 10c each to 230c and 200c respectively.
In Minings, Bindura closed unchanged at 2.8c while RioZim was also stable at 45c after CEO Ashton Ndlovu projected F13 revenues of $185 million from $72 million in F12.
Zimplow was 0.50c weaker at 4c after MD Zondi Kumwenda told shareholders recently that the group will probably achieve an operating profit or at least break-even for the half year.
The Datvest All Share Index however closed 0.20% lower at 128.48 after the number of counters trading lower managed to outweigh those trading on the upside.
The FBC ZSE-10 Index also gave in to losses in Econet and Old Mutual as ft closed 0.40% weaker at 135.86.
Source - zfn
