ZSE Market report:- Blue chips rally buoys Industrials in mid week trades

Published: 10 June 2013

Investors continued to pile into ZSEs heavily capitalised counters on Wednesday giving the Industrials their biggest one-session rise since December 28.

The Industrials Index added 1.66 points or 1.09% to 153.95 while the Minings Index dropped 1.22 points or 1.81% to 66.29 as Hwange traded 1c weaker at 17c. The Industrials Index has been in the positive territory for the past 5 consecutive sessions

Total market turnover remained below the psychological $1 million at $734 837 on a volume of 3.296 million shares. Yesterday 941 687 shares worth $925 601 passed through the market.

Heavyweights rallied with Delta rising 1.85c to its all-time high of 102c taking Is total market capitalisation to $1,226 bin.

Econet advanced 5.02c to 460.02c after reports that the Securities Commission of Zimbabwe has approved Econet's planned takeover of TN Bank describing an offer to minorities as fair. TN Bank closed buyers and sellers only at 15c and 18c respectively.

Retailers OK Zimbabwe added 0.80c to close at its all-time best price of 15c while the dual listed counters Old Mutual was 7.01c firmer at 165.01c amid strong bidding across the floor. PPC was 9.01c in the green at 210.01c.

Bankers CBZ continued to advance after adding 0.20c to 10.2c while Cafca added another 2c to 50c but is still 28.57% down from its all-time best level of 70c.

Other notable risers on the day were counters Padenga up 0.20c to 5c, PG Industries 25% up at 0.5c and Pioneer which added 0.05c to 0.55a

There were only 5 counters to trade lower with Interfresh leading the pack with a 25% loss to 0.15c whilst cement maker Lafarge was 15c weaker at 55c. NicozDiamond and Pearl Properties eased 0.10c and 0.50c each to 1.1c and 2.3c respectively.

The Datvest All Share Index advanced 0.64% to 101.67 whilst the heavyweight's measure, the FBC ZSE-10 Index recorded its best gain so far this year of 1.33% at 103.70.

Gains in dual listed Old Mutual and PPC helped the Dual-listed Index to rally 4.45% at 135.70 while OK Zimbabwe's gain buoyed the Retail Index to rise 4.54% at 203.49.

Download: Daily Prices 09 January 2013
- zfn