The ZSE was pegged back for the second day running in Thursday trades, as earlier gains fail to hold. The main Industrial Index retreated 0.33% to 168.09pts despite the market having no breadth as declines and gains were evenly balanced at a count of five apiece. Beverages group Delta, the market’s top capitalised stock, swayed the direction of the market after it softened -0.86% to 115c. Hefty losses for the day were however seen in cement manufacturers Lafarge and cables manufacturers CAFCA that shed similar margins of 20% and closed the day at identical prices of 40c. DZLH was the other shaker of the day after forgoing -5.56% to 8.5c while Zimplow completed the shakers with a -2.99% decline to 6.5c. Zimplow’s trading price is now a marginal 0.02c above the price of the proposed rights issue price of 6.48c, with the rights issue set to close tomorrow 13 February 2015.

The losses were mitigated by gains in five stocks led by property group ZPI that rebounded from yesterday’s slump recovering +9.1% to 1.2c. Diversified group Meikles added +7.69% to follow while Hippo recovered 2% to 46c on resurgent demand. FMCG conglomerate Innscor ticked up +1.56% to 59c on firm demand. Old Mutual completed the risers for the day on a +1.29% uplift to 236c. The mining index was flat at 59.93pts for the fourth session running as the only active stock in the cluster RIO ZIM traded stable at 15c.

The number of active stocks for the day improved to twenty one from yesterday’s sixteen though trades were spread to lower value stocks resulting in value of trades at $1.01m which fell -23.5% short of yesterday’s outturn. Volumes of the day surged 721% thanks to block crosses in property concern Mash where 9.4m shares exchanged hands at a price of 2.7c yielding the values topping turnover of $255,701. The foreign spend came off 80% on yesterday to $0.23m while portfolio disposals were down 65% at $0.44m leaving the market in a net funds outflow position of $0.21m.

Meanwhile ABCH and TAH were officially delisted from the bourse today following the buyout of minorities in the two companies by their major shareholders. Elsewhere AFDIS released its first results since the refurbishment of its plant to localise production that saw gross margins improve to 50% and the company’s attributable earnings going up 48% to $1.9m; ; today it closed buyers only at 40c