By ETimes

The Zimbabwe Stock Exchange closed a disruptive year with a solid 311.60% gain, outperforming inflation and achieving double the returns in US$ terms.
As for sub-indices, the Top 10 Index saw gains of 311.37%, driven by a 2,187,17% gain in diversified miller National Foods. The company which closed the year with a market capitalization of $94 billion ended the year with a share price of 137,458.82c.
The Medium Cap Index rallied to a 266.75% gain, the least of all the indices but way above annual inflation of 60%. All the indices were led by the Small Cap Index for the second year running as it ended the year at 20,407.26 points, after gaining a mammoth 3,254.62%.
Small cap counter Unifreight, which started the year with a measly market cap of $19 million, is now a better capitalised stock at $3.2 billion was the top riser of the year. It rose 16,011.13% without accompanying fundamentals and looks overvalued at current prices. It has a 52-week low of 22.30c. It gained 3.33% to 2,996.67c at the close of year session.
CFI Holdings, which at one point in the year was still suspended from trading, was one of the major year risers gaining 13,125.64% to 9,357.14c. This was expected as the company had seen its price being frozen since 2016, and the hype around its value chain potential led to much interest on resumption of trading.
Another small cap counter in GetBucks was in the top five risers of the year as it saw its share price rise by 4,700.00%. The troubled microfinance bank saw its share price close at the value of 600.00c. Pushed by retail investors in the year, another struggling small cap stock, Zeco saw its value increase to 0.48c as it gained 2,300.00% to close with a market cap of $2,22 million.
ZSE yearly gains were reversed by a loss in banking institution CBZ Holdings, which saw its share price reduce to 7,516.81c after it lost 12.04% in the year. This left the 2020 top riser as the lone loser of the year in 2021 – Harare



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