Industrials Close July Firm On Improved Volumes

Beverages group Delta Corporation Limited were among the rising counters putting on an impressive 3,9 percent (3c) to 80c on sustained demand following their recent trading update in which the group reported their best quarter post dollarisation with a turnover of US$144 million and volumes hitting 1,69 million hector litres.

On the receiving end of the cane, however, was telecoms giant Econet Wireless Holdings Zimbabwe Limited that slid 4,5 percent (20c) to a new 52 week low of 420c to hold back the market charge. 

The value of trades was up 5,6 percent at US$1,6 million despite a -35 percent fall in volumes of shares traded to 8,4 million from the 39 active stocks on the market with the top trades being concentrated in the heavy cap stocks.

Delta was the most liquid stock for the day after in excess 1,1 million shares exchanged hands in trades worth US$915 079.
Of the 39 active stocks 23 stocks recorded price movements with fallers outweighing gainers by 13 to 10.

Leading market gains was transport group Pioneer Limited that surged 42,86 percent to close the day at 1c with Interfresh Holdings Limited following after putting on 25 percent to 0,25c.

Retail group OK Zimbabwe Limited (OK) closed 4,8 percent firmer at 11c on renewed demand in the retail group while life assurance group AFRE Limited continued with their steady recovery rising +1,82 percent to 5,6c.

Counters to trade in the negative were led by Radar Holdings Limited that came off -44,4 percent to 25c followed by Phoenix that traded -33,3 percent softer at 2c and TPH Limited that dropped 25 percent to trade at 12c.

Fidelity Limited and Zimbabwe Property Inudurties Limited sealed the top fallers list after shedding -18,5 percent and -6,7 percent to 11,41c and 1,4c, respectively.

The Zimbabwe Stock Exchange (ZSE’s) Mining Index was flat at 160.17 points as a gain in RioZim Limited cancelled out loses in Bindura Nickel Corporation Limited.

The rest of the mining stocks Falcon Gold Limited (Falgold) and Hwange Colliery Company Limited (WCCL) recorded no trades.