Heavyweights keep ZSE in positive territory

via Heavyweights keep ZSE in positive territory | The Source November 12, 2013

The stock market continued on an upward trajectory on Tuesday, supported by notable gains in heavyweights Delta, Old Mutual and Hippo.

Blue chip counter Delta added 3.10 cents to 143.10, to keep the main industrial index on a positive path, gaining 1.79 points to 215.18 points while fellow heavyweight insurance giant Old Mutual gained five cents to 265 cents.

Hippo was three cents higher to 115 cents, the local unit of South Africa’s PPC gained 1.01 cents to 251.01 cents and hotelier Meikles rose by 0.50 cents to 27 cents after news that it had completed negotiations with government over its mining venture which will start next month. Starafricacorporation was up marginally, 0.01 cents to 1.51 cents.

Ariston pared 0.20 cents to one cent, Econet fell marginally  by 0.01 cents to 62.99 cents on high volumes, with 1 350 million shares changing hands for $850 000. The counter is one of the most active, attracting foreign buyers. Nicoz saw 40 percent of its share price wiped off to 1.50 cents.

Turnover for the day was flat at $1.76 million.

In minings, Hwange plunged four cents to 10 cents in tiny volumes of 2000 shares selling for $200.