Bulls n Bears Daily Market Commentary : 28 April 2021

Wed Apr 28 17:42:18 CAT 2021

 <http://www.bullszimbabwe.com> Bullszimbabwe.com         <mailto:bulls at bulls.co.zw> Views & Comments        <http://www.bullszimbabwe.com> Bullish Thoughts        <http://www.twitter.com/BullsBears2010> Twitter         <https://www.facebook.com/BullsBearsZimbabwe> Facebook           <http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn          <mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

Bulls n Bears Daily Market Commentary : 28 April 2021

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

ZSE commentary

The ZSE closed today’s session in the positive buoyed by gains in heavyweight stocks as investors look for steady and less volatile returns. Turnover declined by 27.62% to ZW$132.78 million from a trade of over 6.197 million shares which exchanged hands in 375 trades. African Sun was the most active stock at 33 trades followed by Simbisa and Delta. The market breadth was positive after 17 stocks appreciated against 16 that depreciated in a total of 40 stocks which traded. Axia was the most liquid counter as it anchored volume aggregate trading over 1.62 million shares and Innscor anchored value aggregate with a value traded of ZW$27.75 million. The benchmark All Share Index was up 1.18% and the Top 10 Index was up by a 1.00%. The Top 15 Index added 1.03% as it surpasses a psychological mark to 3 009.79. The Medium Cap Index traded higher to 11 110.91 appreciating by 1.57% doubling its year to date gains, whilst the Small Cap Index shaded a marginal 0.30% to close at 43 271.46.

Leading the risers pack of the day was Art Corporation which added 14.84% and the packaging manufacturer Nampak with a 13.58% share appreciation to 1601.43c. Bindura added 10.89% to 486.62c. First Mutual Holdings  appreciated by 9.32%. Edgars gained 5.86% to close at 319c. Leading in the shakers pack was the construction company Masimba which pared 7.11% followed Wildale shading 6.46%. Star Africa and General Beltings Holdings pared 3.89% and 2.52% respectively. Please find a summary of the market activity as shown below; The Old Mutual Top Ten ETF closed at 175.36c up 3.15% after 11 800 units with a value of ZW$20 692 in 9 trades exchanged hands.-wealthaccess

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

Global Currencies & Equity Markets

Nigeria

Naira remains flat at forex markets as bitcoin rebounds, up by over 7%

The naira remained stable at the parallel market to close at N485/$1 on Monday.

Published 1 day agoon April 27, 2021By Chike Olisah FOREX, Dollar scarcity worsens as exchange rate falls to N472/$1 at black market , Naira falls to N460/$1 as CBN intervention fails to contain speculation

Monday, 26th April 2021: The exchange rate between the naira and the US dollar closed at N410/$1 in the Importers and Exporters window.

Naira remained stable on Monday, at the Nigerian Autonomous Foreign Exchange (NAFEX) window, as the rate closed at N410 to a dollar, the same rate that was recorded on Friday, 23rd April 2021.

Also, the naira remained stable at the parallel market to close at N485/$1 on Monday. This was the same rate that was recorded the previous day as the global cryptocurrency market was up by over 8% with bitcoin rebounding by over 7%.

The price of the world’s most popular digital instrument dropped on Friday, 23rd April 2021, while Nigeria’s external reserve continues to record a decline.

Trading at the official NAFEX window

The naira remained stable against the US dollar at the Investors and Exporters window on Monday to close at N410/$1, the same as recorded on Friday.

South Africa

South Africa's rand weaker in tentative trade ahead of Fed policy decision

South Africa's rand was weaker early on Wednesday as caution set in ahead of the U.S. Federal Reserve's latest policy decision, which will likely set the tone for global currency trading in the coming sessions.

At 0715 GMT, the rand was 0.2% weaker at 14.4100 per dollar, its worst level in two weeks, compared with an overnight close of 14.3750 overnight in New York.

With local markets closed on Tuesday for a national holiday, rand volumes were thin overnight, keeping the currency within a recent range tilted to the upside as investors worried about rate hikes by the Fed.

The Fed is widely expected to maintain its policy stance and likely to repeat its dovish message, but some analysts say signs of rising inflation could nudge the central bank to abandon its rhetoric that a policy tightening was still a long way off.

Bonds were also weaker, with the yield on the benchmark 2030 government issue up 8.5 basis points at 9.24%.

Our Standards: The Thomson Reuters Trust Principles.

.

 <mailto:info at bulls.co.zw> 

Global Markets

Rupee surges 22 paise to Rs 74.44 against the US dollar in early trade

The Indian rupee advanced by 22 paise to 74.44 against the US dollar in opening trade on Wednesday, as a positive trend in equity markets lifted investor sentiment. Forex traders said the appreciation in the local unit could be restricted amid a sharp rise coronavirus infections and fatalities in the country and as investors await the US Federal Reserve’s monetary policy outcome.

At the interbank forex market, the local unit opened flat at 74.49 against the US dollar, then gained some strength to quote at 74.44, a rise of 22 paise over its last close. In the previous session, the rupee had settled at 74.66 against the American currency.

Single-day rise of 3,60,960 COVID-19 infections, 3,293 fatalities pushed India’s tally of cases to 1,79,97,267 and death toll to 2,01,187, according to official data. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.10 percent to 91.

Global oil benchmark, Brent crude futures, rose 0.05 percent to USD 66.45 per barrel. On the domestic equity market front, the BSE Sensex was trading 382.66 points or 0.78 percent higher at 49,326.80 in early deals, while the broader NSE Nifty rose 104.55 points or 0.71 percent to 14,757.60.

Foreign institutional investors were net sellers in the capital market on Tuesday as they sold shares worth Rs 1,454.75 crore, as per exchange data.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold hits 1-week low as yields rise ahead of Fed statement

(Reuters) - Gold prices slipped to a one-week low on Wednesday as U.S. Treasury yields firmed up ahead of a Federal Reserve policy statement later in the day.

Spot gold was down 0.6% at $1,766.44 per ounce by 0729 GMT, having fallen to its lowest since April 20 at $1,764.90 earlier in the day. U.S. gold futures  eased

0.7% to $1,766.70 per ounce.

Benchmark U.S. 10-year Treasury yields jumped to their highest since April 13, increasing the opportunity cost of holding bullion. 

U.S. consumer confidence soared to a 14-month high in April, as more businesses reopened.   

The dollar index rose 0.2% against its rivals, making gold more expensive for holders of other currencies.  

Investors now await the Fed's statement, which is expected to provide cues on the central bank's monetary policy outlook.

Analysts and traders have slashed their gold price forecasts, with many believing a return to last year's record highs is unlikely as economic recovery tarnishes the safe-haven metal's appeal, a Reuters poll showed.  

Meanwhile, analysts at Goldman Sachs see gold prices at $2,000 an ounce over the next six months and said it was too early for bitcoin to compete with gold for safe-haven demand.

Bitcoin , also considered a store of value, rose to a one-week high of $55,809.86 earlier in the session.

Palladium fell 0.4% to $2,931.51 per ounce, after hitting an all-time high of $2,962.50 on Tuesday.

Silver fell 1.2% to $25.92 per ounce. Platinum was down 0.9% at $1,217.90.

INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

BAT

AGM

Cresta Lodge, Msasa

30/04/21 10am

Workers Day

01/05/21

FCB

AGM 

virtual

06/05/21 : 3pm

NMB

AGM

virtual

1205/21 :  3:30pm

Africa Day

25/05/21

Counters trading under cautionary

ART

Seed co Int.

Dairibord

Starafrica

Medtech

Turnall

Seed co

Invest Wisely!

Bulls n Bears 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:         <http://www.bullszimbabwe.com> www.bullszimbabwe.com  

Blog:            <http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bullszimbabwe.com/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:      <http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA> www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

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 the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and sourced from third parties.

(c) 2021 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:  <mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77 344 1674

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210428/8b67c02e/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210428/8b67c02e/attachment-0001.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 38757 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210428/8b67c02e/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 27716 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210428/8b67c02e/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 22328 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210428/8b67c02e/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 37760 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210428/8b67c02e/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 130968 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210428/8b67c02e/attachment-0001.obj>