The Industrial Index was +0,35 percent firmer at 144.25 points after Innscor advanced +3,58 percent to 55,5c on buoyant bidding while AICO added +4,74 percent to 19,9c.
Value traded jumped to $3,5 million from $600 420 recorded yesterday boosted by foreign trades in Delta and Econet.
Foreign investors sold a block of 3,4 million Delta at 72c through a special bargain while back to back foreign trades in Econet saw 213 131 shares exchange hands at a stable price of 400c in trades worth $852 524.
Resultantly foreign outflows at $3,3 million were 93 percent of the day’s turnover while inflows were lower amounting $825 514.
Volumes were 42 percent higher at 8,5 million units. There were 34 active counters of which 10 were riser, eight losers while the 16 traded unchanged.
Starafrica Corporation Limited led the gainers putting on 12,50 percent to 1,35c as ZimRe Property Investments Limited followed with a 10 percent charge to 1,21c.
The duo of banking stocks Trust Financial Holdings Limited and ABC Financial Holdings Limited out on +8 percent and 7,14 percent to 1,08c and 75c, respectively.
Mashonaland Holdings Limited continues to enjoy a fine run in the wake of its September finals released last week adding a further +0,1c or +3,70 percent to 2,8c on solid demand.
Diversified group, Meikles Africa Limited eased -14,58 percent to 20,5c as buyers shied away from stock seemingly spooked by their September interims where the group reported a loss of $5 million weighed down by finance costs amounting to $4,3 million as the group continues to be dogged by recapitalisation issues.
The group has, however, managed to achieve partially indigenised status after submitting acceptable plans that saw them recently launching an Employee Share Ownership Trust (ESOT) as part fulfilment of indigenisation laws.
Tractive Power Limited was the worst performing stock easing -20 percent or -2c to 8c, Tobacco Sales Limited slipped -1c or -11,76 percent to 7,5c while Edgars Limited was -1,16 percent lower at 8,5c.
Losses in Falcon Gold Limited (Falgold) and Rio Zimbabwe Limited saw the Z|SE's Mining Index slip -2,35 percent to a 52-week low of 115.29 points.
Falgold lost -7,69 percent to 6c while Rio traded -1 percent lower at 49,5c. Coal miner Hwange Colliery Company Limited (HCCL) was offered lower at 43c with no buyer in sight.
The resources sector continues to be dogged by recapitalisation issues with all mining stocks except Falgold in dire need of new injections.
Bindura Nickel Corporation Limited has been under care and maintenance since dollarisation with no indications that the situation might change in the near future.
The irony of it is that Bindura recently received a $10 million boost from parent Mwana Africa Holdings Limited to sink into the extended care and maintenance programmes of the groups.
Financial arrangements for Hwange and Rio continue to be protracted to the detriment of operations of the miners.
The Mining Index has lost almost half of its value this year alone with a Year-To-Date loss of -42,47 percent as all mining stocks are in the deeply red on YTD performance basis: Rio (-73,95 percent), Hwange (-16,98 percent), Falgold (-36,84 percent and Bindura (-61,54 percent).
Post published in: Business