Stock Market Weekly Review

DELTA Corporation led the Zimbabwe Stock Exchange (ZSE) weekly rally, which saw the beverages giant swing back to its long held position as the market's biggest counter by value.

Following its 51 percent gain to $22,73 weekon-week, Delta is now on top valued at $29 billion, replacing banking group, CBZ which is now valued at $25 billion. The weekly bullish sentiment saw investors bag a cumulative $12 billion in one week with all indicators closing the week to Wednesday in the black.

The ZSE Top 10 Index paced the fastest with a 7,1 percent increase to 1 071 points from 1 000 points recorded in the prior week.

Primary indicator, the ZSE All Share Index put on 5,98 percent to close at 1 632 points reflective of the gains recorded across board.

The ZSE Top 15 Index advanced 5,92 percent to 1 254 points while the Medium Cap rose by 4 percent to settle at 3 223 points. At 6417 points,the Small Cap was 5,69 percent above prior week. Total market value jumped 6 percent to $197 billion.

Delta headlined the week's risers followed by clothing retailer, Truworths, which put on 48 percent to 20,85 cents.

Sugar processor, Star Africa rose 42 percent to 30 cents, while peers Hippo ticked 28 percent to $18 from $14 recorded in the prior week.

Telecoms giant, Econet, wrapped up the week's top five risers with a 20 percent jump to $4,81. Other significant gains were recorded in National Foods, which rose by 20 percent to $60 after revealing first quarter volumes rose by 15 percent compared to same quarter in the financial year 2020. Flour division rose 43 percent but maize went down 35 percent.

Axia rose 15 percent to $5,19. The specialty retail and distribution group said it's volume performance rebounded during the quarter to September 30, 2020 as lockdown restrictions eased, allowing businesses to function more smoothly.