Industrials in modest gains as activity improve

Activity on the bourse was much improved with the daily turnover breaching the $1 million mark for the first time in the new year at $1,6 million.

Driving the much improved turnover performance were two special bargain trades in Hippo Valley estates Limited and Padenga Holdings Limited whose combined contribution to daily turnover stood at 55 percent.

Foreign participation remains in a net outflow position but was significantly improved at an estimated $548 518 for purchases while sales stood at $777 803.

The improved activity saw the main stream industrial index post its first gain in the new year after rising by a modest +0.30 percent to 140.18 points as gains in seventeen counters outweighed losses in nine stocks among the industrials.

Dually listed investments company Old Mutual riding on a surge in renewed demand was the most notable riser for the day after a 7.8 percent surge took them to 125.01c while life assurer Fidelity Life Limited maintained a steady momentum putting on +6.18 percent to 17.01c by close of call.

Other heavy weight stock gains were seen Innscor that was +0.22 percent firmer at 55.12c on strong demand, SeedCo crept +0.82 percent up to 111c as parent AICO garnered +2.84 percent to 14.5c, whilst Dairibord put on +5.56 percent to 19c.

The top performer for the day though was the highly illiquid stock Radar Limited that traded +87.5 percent firmer at 15c in its first trades in fourteen trading sessions.

Star Africa followed putting on 22% to 1.1c as ZHL closed 20% firmer at 1.2c albeit on thin volumes.

Trading in the negative was FBCH easing -16.7 percent to 5c while ART which came off -12.5 percent to 0.35c followed. Losses were also seen in news group Zimpapers that closed -12.5% lower at 0.7c while property concern Mash slid -9.26% to 2.45c.

The mining index slid by a further -2.47 percent to 79 points after losses in Hwange CollieryCompany Limited that came off -6.7 percent to 28c cancelled out gains in Bindura and Falgold whilst no trades were seen in Rio Zimbabwe Limited

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