The industrial index took a knock in the first session of the week coming off from a record high of 400.01 on Friday. The index lost 2.35% to 390.62, a first in 28 sessions. The mining index went up by a marginal 0.01% to 91.47 driven by gains in Rio Zim.
A total of 36 counters exchanged hands in the session with 17 counters closing in the black while 6 counters eased. Lafarge was the top performer with an increase of 20% to 60c and the counter has gained 53.8% since the beginning of the year. Peer cement maker PPC which has been subject to takeover bids in recent weeks, closed stable.
ZB, one of the top performers year to date, trailed with a sharp gain of 19.23% to 31c. African Sun which was among the top risers in the prior session maintained its rally going up by 15.94% to 4c.
Nicoz and Hippo went up by 8.11% and 7.03% to 4c and 144.49c respectively. This is the first time Nicoz has gone up post the acquisition approval by FML shareholders.
Delta emerged as the worst performer in the session with a decline of 8.69% to 270c. The counter is trading at an out of proportion PE ratio of 47% which the market may not be able to sustain.
Dairibord retreated by 3.32% to settle at 16c while Truworths, Meikles and Masimba edged lower by 1.82%, 1.74%, 1.67% to 1.08c, 40c and 5.90c respectively. Star Africa remained in the red easing by 1.65% to 2.38c as it reverses prior week gains.
Turnover in the session went down by 40% to $6.1 million from the prior session. Padenga, Simbisa, Delta, OK and ZB were the top value contributors in the session. The total number of shares exchanged came in at 10.1 million.
