CONSUMER discretionary stocks were the best performing cluster on the Zimbabwe Stock Exchange (ZSE) during the second quarter of 2021, with aggregate returns of 60 percent, compared to 38 percent for the All-Share Index.
The bunch is made up of companies that provide non-essential services and products such as Edgars, Truworths and Simbisa Brands.
During the period, the sector became the major cluster on the exchange, closing with a capitalisation weight of 17,8 percent after surpassing technology ― 15 percent.
Within the consumer discretionary group, Dairibord Holdings, Delta and Afdis were the best performing counters, registering returns of 116 percent, 57 and 56 percent, respectively.
The gains were on the back of the sector’s rebound during the first half of the year on account of a rebound in demand within the economy amid the ZWL$’s stabilisation, and the opening up of the economy due to the loosening of Covid-19 restri
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