Industrials falters at half year end but still up 38.58% in the year

ZSE's Industrials ended the first half of 2013 in the red as the market's most capitalised counter Delta clocked 4 straight sessions trading in the red.

The trading session was however highlighted by a block deal of 51.58 million FBC shares worth $5,158 million booked over at 10c which boosted today's market turnover to $6,235 million on a volume of 67.29 million shares.

The Industrials Index dropped 1.38 points or 0.65% to end the first half at 211.19 and 38.58% up into the year so far having reached an all-time best of 223.58 on June 11.

The Minings Index remained stable at 73.29 with no activity being recorded in the sector. At 73.29 the resources index is up 12.55% since January.

Delta dropped another 2c to close at 140c trimming its market cap to $1,718 billion and its gains in the year to just 40%. The beverages counter has dropped 9c or 6.04% this week alone.

Barclays which has enjoyed a fine run over the past 2 weeks dropped another 0.50c or 10% to 4.5% largely on profit taking. CBZ was 0.10c weaker at 13.5c.

Telecoms giant Econet recovered 2c to 66c as buyers resurfaced and were still looking at 64c. Innscor recovered a modest 0.02c to 91.02c while associate Natfoods added a marginal 0.01c to 245.01 c. Afdis remained in favour adding 1 c to 33c, its best level since June 2009. At best Afdis traded at 35c on May 22 2009.

Cigarette manufacturer BAT became the first counter to trade at $10 after adding 15c to 1000c ($10) for the first time since dollarisation. This takes its gains in the year to 177.8% and its market cap to $206.2 million.

Meikles dropped 0.50c to 31.5c while Old Mutual lost a significant 16c to 214c. Cement manufacturing counters PPC recovered 5c to 250c while Lafarge added a marginal 0.01c to 100.01c. Padenga advanced 0.10c to o.9c, its year to date best level and looked firm with buyers still looking at the same price.

Aico Africa closed sellers only at 9c ahead of its finals and analysts briefing this afternoon while subsidiary SeedCo picked up 1c to 81c after publishing a cautionary statement on some negotiations yesterday.

Also trading firmer ZBFH added 0.10c to 10.6c and ZHL 0.10c up to 1.4c on reports that its first quarter operating profit is up 38%. Zimplow was 0.45c better at 5.45c.

Property counter Mash added 0.05c to 1.85c in significant deals worth $343 874 while retail counter OK Zimbabwe was 0.01c better at 22.04c ahead if its final dividend of 0.60c record date this afternoon.

Trading in the first half of the year has been largely bullish with most counters trading at their best levels since dollarisation but activity slowed towards the end of June mainly attributable to profit taking and the anticipated election.

Out of the active 65 counters a massive 47 are in the positive territory since January while only 13 are in the negative territory and only 5 are trading at their January 1 levels.

Pioneer is leading in year to date gains having done 700% followed by GB Holdings and Willdale at 400% while Masimba is fourth with 300%. Zeco 200% up since January is fifth.

On the downside this year to date Pelhams tops having lost 55% followed by RTG43.8%, NTS 33.3% in the red, Hunyani 32.4% is fourth while Cafca 25% down since January is fifth.

The Datvest All Share Index dropped 0.31 points or 0.22% to end the first half at 142.21 and is 40.95% up since January while the FBC ZSE-10 Index eased 024 points or 0.16% to 146.87 trimming its gains h the year to 4422%.

All the sectoral indices on the Zfn board except the Tourism sector (down 18.08%) are in the positive this year to date with the Insurance having done 60.03% while Manufacturing is up 56.04% and the Truworths Retail Index us up 49.93%.