Industrials ends the week in positive territory on thin volumes

Industrials ended the first week of the second half of the year in the positive territory as heavyweights continued to recover albeit in thin volumes.

The Industrials Index gained 1.62 points or 0.76% to 215.09 on gains in heavyweight counters Delta, Econet, Innscor and OK Zimbabwe.

Daily market turnover closed below the psychological $1 million value at $589 1 91 on a volume of 2.919 million shares against yesterday's $1,061 million on a volume of 5.o24 million shares.

Blue chip Delta gained 1c or 0.71% to 141c in the wake of reports that the group's sorghum beer division, Chibuku plans to invest more than $6.5 million in a new plant in the coming year to meet growing demand for the product

Other heavyweights, Econet, Innscor and OK Zimbabwe (one of the top 5 risers) advanced 2.07c, 0.80c and 0.81c to 66.4c, 94c and 24.01c respectively.

BAT scaled new heights again after adding 25c to $12 another all-time best to take its gains in the year to 233.3% and 356.3% up on a year earlier.

The Minings Index remained stable at 70.12 points with only one counter, Bindura trading unchanged at 2.6c. Meanwhile, Falgold closed sellers only at 12c amid reports that the Zimbabwe Indigenous Miners Empowerment Association has requested government to order the firm to release its unused gold mining claims to them.

Weekly market turnover dosed at $4,471 million on a volume of 27.660 million shares.

Pioneer led the top risers on the day, gaining 0.50c or 6.25% to 8.5c while dual listed Old Mutual picked 10.02c or4.77% to 220.02c.

Other gainers were cement manufacturer, Lafarge which added 4c or 3.96% to 105c and Edgars which advanced 0.50c or 3.85% to 13.50c.

TSL traded unchanged at 30c as the 2013 tobacco marketing season for flue-cured tobacco ends today with the country on course to meet the projected 170 million kilogrammes (kg) of tobacco.

Truworths dosed as the top faller on the day, shedding 1.60c or 34.78% to 3c. Hunyani eased 0.50c or 12.50% to 3.5c and Art dropped 0.05c or 10% to 0.45c.

Hippo eased 10c or 8.70% to 105c while Star Africa lost 0.10c or 7.69% to 1.2c.

DZHL and Padenga dropped 1 c and 0.01c each to 22c and 6.9c respectively. Bankers ZBFH closed 0.94% weaker at 10.5c after publishing a further cautionary statement saying the company is still engaged in discussions which, if successfully completed, may have a material impact on the company's business and share price.

NMB remained stable at 9c after the bank said an impending industrial action by its non-managerial workers is procedural and discussions are currently underway between Zibawu and the Banking Employers Association of Zimbabwe at industry level to resolve the issue.

The Datvest All Share Index extended gains by adding 1.04 points or 0.73% to 144.42 while the FBC ZSE-10 Index was 1.66 points or 1.12% better at 149.44.

The Dual Listed Index was the best performing on the day rising 6.10 points or 3.59% to 175.90 spurred by gains in Old Mutual.

There were only 2 sectors to manage losses on the Zfn board with the Agri-Industrial Index losing 2.98 points or 3.60% to 79.61 as Hippo and Padenga traded lower. The Banking Index lost a modest 0.03 points or 0.04% to 80.69.