Bulls n Bears Daily Market Commentary : 06 April 2021

Tue Apr 6 15:40:31 CAT 2021

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Bulls n Bears Daily Market Commentary : 06 April 2021

 <https://www.nedbank.co.zw/> 

ZSE commentary

The ZSE stock market was virtually unchanged at close of a quiet trading
picking from the Easter break with the performance only supported by Small
Cap stocks. The muted performance comes as investors are still cautious
about the current economic growth story after recent weeks showed signs of
it letting up, despite the successes of the policy measures towards exchange
rate stability and inflation. Turnover declined by 60.64% to ZW$25.6 million
and activity levels also declined in today's session with 2 462 700 shares
exchanging hands in 346 trades. Medtech Holdings was the most liquid counter
as it anchored volume traded at 731 100 shares and OK Zimbabwe anchored
value aggregate.

The benchmark All Share Index was down by 0.77% and the Top 10 Index was
down 1.11%. The Top 15 Index shaded 0.90% to 2 946.04. The Medium Cap Index
traded lower at 0.30% depreciation, whilst the Small Cap Index added 0.45%
to close at 47 566.21. Leading the risers pack of the day was the General
Beltings  and Masimba Holdings with a 9.04% and 8.33% share appreciation
respectively. Mashonaland Holdings added 6.60% to 191.92c. Art Corporation
appreciated by 2.91%. Hippo gained by 2.53% to 15 000c. Leading in the
shakers pack was Padenga  which pared 9.32% followed by the Edgars shading
9.18%. Wildale  and Econet pared 6.78% and 5.09% respectively.

Please find a summary of the market activity as shown below; The Old Mutual
Top Ten ETF closed at 182.92c down 3.75% after 9 894 units with a value of
ZW$18 097.84 in 13 trades exchanged hands. -wealthaccess

 <https://www.facebook.com/Hyundaizimbabwe/> 

Global Currencies & Equity Markets

South Africa

Rand holds gains as dollar slips

JOHANNESBURG - Rand stabilised near a five week high early on Tuesday, as a
weaker dollar and a pull back in US bond yields lifted demand for riskier
but high yielding currencies.

At 0610 GMT, the rand traded at 14.5600 against the US dollar, largely
unchanged from its previous close. The currency hit a five-week high of
14.5250 on Monday.

TreasuryONE currency strategist Andre Cilliers attributed the rand's gains
to weakness in the US dollar.

The dollar stabilised near an almost two-week low versus a basket of its
peers, even as data showed a gauge of US services activity hit a record high
in March and Friday's bumper jobs report opened a cautious door to questions
as to how much further the greenback and US yields can go.

The rand is expected to take cues from global market events, in the absence
of market-moving local news.

In fixed income, the yield on the benchmark government bond due in 2030 was
down 3 basis points at 9.535 percent in early deals. - REUTERS

 <mailto:info at bulls.co.zw> 

Global Markets

Rupee ends lower at 73.42 per dollar

Indian rupee ended 12 paise lower at 73.42, amid volatile trade saw in the
domestic equity market.

It opened 6 paise higher at 73.24 per dollar against Monday's close of 73.30
and traded in the range of 73.20-73.43.

At close, the Sensex was up 42.07 points or 0.09% at 49,201.39, and the
Nifty was up 45.70 points or 0.31% at 14,683.50.

Oil prices rose early on Tuesday as a drop in the U.S. dollar made crude a
more attractive buy, paring losses of more than 4% incurred overnight on the
prospect of producers returning more than 2 million barrels per day of
supply to the market by July.

Gold prices rose on Tuesday, as a weaker dollar made bullion cheaper and
more attractive for buyers outside the United States, while a pull-back in
U.S. Treasury yields provided further support.

As the Dollar index has retraced from fresh four-month's high below 93
levels, marginal respite was seen in the domestic currency. However,
continued Put writing may keep downsides limited while declines remain a
buying opportunity, said ICICI Direct.

The dollar-rupee April contract on the NSE was at Rs 73.55 in the last
session. The open interest declined almost 5.3% for the April series, it
added.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Oil climbs as dollar weakens

Melbourne - Oil prices rose early on Tuesday as a drop in the US dollar made
crude a more attractive buy, paring losses of more than 4% incurred
overnight on the prospect of producers returning more than 2-million barrels
a day of supply to the market by July.

Brent crude futures jumped 83c, or 1.3%, to $62.98 a barrel at 12.12am GMT,
after falling 4.2% on Monday.

US West Texas Intermediate (WTI) crude futures rose 80c, or 1.4%, to $59.45
barrel, after sliding 4.6% on Monday.

The dollar fell 0.4% against a basket of currencies on Monday and dipped a
bit further on Tuesday. Oil prices typically rise against a falling dollar,
as a weaker greenback makes dollar-priced oil cheaper for those holding
other currencies.

Adding to positive sentiment, England is set to ease coronavirus pandemic
restrictions on April 12, with the opening of businesses including all
shops, gyms, hair salons and outdoor hospitality areas. That helped offset
worries about the agreement last week by oil cartel Opec to bring back
350,000 barrels a day of supply in May, another 350,000 a day in June and a
further 400,000 or so in July.

Saudi Arabia is also set to phase out its extra voluntary cut of 1-million
barrels a day over those three months. At the same time Opec member Iran,
exempt from making voluntary cuts, is boosting supply.-Reuters

Gold hits more than one-week peak as dollar and yields slip

Gold prices climbed to their highest in more than a week on Tuesday as a
weaker dollar and a drop in US bond yields boosted demand for the metal.

Spot gold was up 0.1 percent at USD 1,730.46 an ounce by 0703 GMT after
touching its highest since March 25 at USD 1,737.35. US gold futures rose
0.1 percent to USD 1,731.10.

The dollar slumped to an almost two-week low against a basket of rival
currencies, making gold cheaper for buyers outside the United States.

Benchmark US Treasury yields slipped, moving further away from a 14-month
peak hit last week, reducing the opportunity cost of holding non-yielding
gold.

Better than expected recent economic readings out of the United States,
meanwhile, have lifted hopes of swift recovery and drove investors towards
riskier assets.

The US economic outlook is brightening, Cleveland Federal Reserve Bank
President Loretta Mester said on Monday, adding that the Federal Reserve
should stick to its easy monetary policy to help to support growth further.

INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

Independence Day

18/04/21

Public Holiday in lieu of Independence Day falling on a Sunday

19/04/21

Workers Day

01/05/21

FCB

AGM 

virtual

06/05/21 : 3pm

Africa Day

25/05/21

Counters trading under cautionary

ART

Seed co Int.

Dairibord

Starafrica

Medtech

Turnall

Seed co

Invest Wisely!

Bulls n Bears 

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DISCLAIMER: This report has been prepared by Bulls 'n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
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for guideline purposes only and sourced from third parties.

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