ZSE registers significant gains

losses on the back of thin trading.
Deal activity declined from US$980 300,30 recorded on the first day of trading to US$977 157,99 yesterday from 195 million and 125 million shares respectively.
Significant volumes were recorded in Pearl Properties where five million shares changed hands at US3c. Other noticeable trades were in Innscor trading 241 000 shares at US59c and Seed Co trading just below 240 00 shares at US140c.
Value of trades bottomed to its lowest levels compared to 2009 where the market averaged about US$2,5 million a day.
However, yesterday’s gains could be that investors have thrown caution to the wind dousing indigenisation fears with fresh buying interest expected in selected capitalised counters.
As the market was predominantly unchanged, 11 counters recorded losses.
Other gains were recorded in mobile phone operator Econet adding a cent and the country’s insurance giant Old Mutual also putting a cent to close at US501c, and US161c respectively.
Afre moved up US0,50c to close at US4c on the back of reports that Econet Wireless could increase its stake in the company amid disclosures it will underwrite the insurance group’s planned US$10 million rights issue.
Econet holds a 20 percent stake in Afre, gained after the two joined forces to offer a mobile insurance product, Ecolife.
Sugar producers Hippo led the shakers with a US3c loss at US107c, Meikles eased US0,70c to trade at US44,30c and Aico Africa dropped US0,30c to US18,20c.
Diversified financial counter FBCH was US0,23c softer at US4,67c and Barclays shed US0,20c to US5,40c.
The resources index eased 1,32 percent to close at 194,15 points as Hwange lost US2c to settle at US65c as Bindura retreated US1,50c to trade at US6c while Falgold was unchanged at US5c.
RioZim improved by US10c to trade at US150c as investors renew their interest in the mining giant.
Going forward the market is expected to record significant gains as companies with February year-ends start publishing their results.
ZSE biggest counter by market capitalisation, Delta, is expected to release its results today and the market is upbeat about the financials.
Delta’s share price has been on a steady growth over the past six months and given the demand for its products earnings are expected to be higher than anticipated.
Yesterday Delta traded at US81,14c.