Omega Ukama 
MINOR stocks on the Zimbabwe Stock Exchange (ZSE) outpaced larger peers during the first quarter of 2021, with the Small Cap Index gaining 298 percent compared to the all-share tracker’s 71 percent and the Top 10 Index’s 57 percent. 
And this gap, analysts say, was promoted by the emerging retail investment movement on the exchange. It comes as the market rally has gradually subsided over the three-month period with the All Share Index picking up 4,53 percent in March compared to advances of 19 percent and 37 percent in February and January.
“The slowdown of the market has mainly been due to constrained liquidity and profit taking and Small Caps by their nature are usually associated with thin counter liquidity hence in a bear market they don’t take as much of a hair-cut as the Big Caps,” Enock Rukwara, an investment analyst at FBC Securities told The Financial Gazette last week.
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