Bulls n Bears Daily Market Commentary : 16 December 2021

Fri Dec 17 05:54:05 CAT 2021

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Bulls n Bears Daily Market Commentary : 16 December 2021

 <mailto:info at bulls.co.zw> 

ZSE commentary

The ZSE shares retreated in today's session as investors continue to retreat
and profit taking remained unabated. Activity levels declined to 268 trades.
Delta was the most active stock at 30 trades followed by Star Africa and
Innscor at 24 and 18 trades respectively. Investor sentiment was negative
after the session yielded 16 fallers against 7 risers while four of the
active stocks remained unchanged. Delta anchored both volume and value
aggregate trading 313 700 shares with a value of ZW$43.57 million
contributing 45% to total turnover.

The All-Share Index shaded 1.22% to close at 10 052.48 points. The Top 10
Index pared 1.29%. The Top 15 Index also lost 1.22%. The Medium Cap Index
was down by 1.17% to 19 650.28 points whilst the Small Cap Index shaded
0.13% to 377 755.71 points. Leading the shakers pack of the day was Meikles
shading 17.24%. Mashonaland Holdings  was down by 15.79%. Dairibord Holdings
shaded 13.04% and Axia Corporation shaded 6.42% to 2620.25c. CBZ Holdings
was down by 5.31%. Mitigating the losses were gains in African Sun and NMB
Holdings which added 14.12% and 9.76% to 699.71c and 1100c respectively.
Wildale was up by 7.20% to 280.05c. Zimre Holdings and Zimpapers added 0.06%
and 0.03% respectively. The Old Mutual Top Ten ETF closed at 499.42c down by
0.12% after 5 615 units worth ZW$28 042.50 exchanged hands in 21
trades..-wealthaccess

Global Currencies & Equity Markets

Kenyan shilling to weaken, Zambian kwacha too seen hurt by importer demand

(Reuters) - The Kenyan shilling is expected to face pressure but that may
ease gradually, while the Zambian kwacha is also anticipated to weaken amid
higher importer appetite for hard currency.

KENYA

Kenya's shilling is expected face pressure in coming days but traders said
they anticipated demand for dollars would ease as the Christmas and New Year
season progressed.

Commercial banks quoted the shilling at 112.90/113.10 per dollar, compared
with last Thursday's close of 112.85/113.05.

NIGERIA

The Nigerian naira was seen flat next week on the unofficial market where it
trades more freely, after Nigeria was taken off Britain's travel "red list"
could boost diaspora inflows, traders said.

The currency traded at 575 naira per dollar on the parallel market on
Thursday, marginally down from 573 naira last week. On the official market ,
commercial banks quoted the currency in a range of 409-415 against the
dollar.

Britain removed Nigeria and other African countries from its COVID-19 travel
red list after it added them in the wake of the outbreak of the Omicron
variant of the coronavirus.

TANZANIA

The Tanzania shilling should see limited downward pressure next week amid
ongoing demand for hard currency.

Commercial banks quoted the shilling at an average of 2,300/2,310 on
Thursday, slightly weaker from an average of 2,295/2305, recorded a week
earlier.

UGANDA

The Ugandan shilling is seen stable in the coming days with demand mostly
flat and some economic activities scaling down as the festive season gets
underway.

At 1145 GMT commercial banks quoted the shilling at 3,560/3,570, unchanged
from last Thursday's close.

The currency was likely to trade around 3,560, he said.

ZAMBIA

The kwacha is expected to come under pressure against the dollar. On
Thursday, commercial banks quoted the currency of the copper-producing
nation at 16.2301 per dollar from a close of 16.0000 a week ago.

The Thomson Reuters Trust Principles.

 <mailto:info at bulls.co.zw> 

Global Markets

Dollar steadies after fall triggered by central bank moves

(Reuters) - The U.S. dollar steadied on Thursday but was headed toward a
second day of losses as markets sorted a raft of central bank policy
statements for clues to coming differences in interest rates and support for
their economies.

The dollar index of major currencies was down 0.4% in afternoon trading in
New York after having fallen as much as 0.5% in the morning.

Losses came against currencies associated with more risk taking, as well as
against the safe-haven Japanese yen and the Swiss franc.

Within 24 hours, the dollar index plunged 1.1%, starting from a spike up
when the U.S. Federal Reserve posted a new policy statement on Wednesday,
down to a low shortly after the European Central Bank and the Bank of
England made announcements on Thursday.

The British pound surged as much as 0.8% against the dollar after the Bank
of England became the first major central bank to raise interest rates since
the beginning of the pandemic. read more

The euro climbed more than 0.5% after the European Central Bank said it
would slightly rein in stimulus.  

The gentle move by the ECB contrasted with the more hawkish tone of the Fed,
which said it will end its pandemic-era bond buying in March, paving the way
for an expected three interest rate hikes in 2022 

The pound was last up 0.4% to $1.3314 and the euro was up 0.3% to $1.1332.

The swings suggested that some traders had moved to close out short
positions against the euro and sterling, Chandler said.

The euro-dollar exchange rate also seems to be tracking changes in the
spread between market yields of two-year U.S. and German government
securities, Chandler said, adding that two-year yields are especially
sensitive to central bank interest rate policies.

That spread, which had been trending wider this year with the relative
hawkishness of the Fed to the ECB, narrowed slightly on Thursday in favor of
the euro.

The different paths taken by major central banks underline deep
uncertainties about how the fast-spreading Omicron variant will hit
economies and about how much each should do to fight surging inflation,
which is hitting hard in the United States and Britain, but less so in
Europe. read more

The central banks included dovish elements in their statements, which gave
markets confidence to move toward riskier trades without too much fear of
recession from tighter monetary policy.

In cryptocurrencies, bitcoin fell 2% to $48,011.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold price today at Rs 48,350 per 10 gram; silver selling at Rs 61,400 a kg

The price of gold varies across the country due to excise duty, state taxes,
and making charges.

The price of 10 gram of gold increased by Rs 440 on Friday, with 24 carat of
it trading at Rs 48,350 and 22 carat at Rs 47,350.

The price of 1 kg of silver increased by Rs 500 from yesterday, trading at
Rs 61,400 this morning.

In Delhi, the price of 24-carat gold stands at Rs 51,420, while in Mumbai it
is at Rs 48,350, according to the Goodreturns website.

The price of 10 gram of 22-carat gold in Delhi and Mumbai is at Rs 47,140
and Rs 47,350, respectively.

In Chennai, 10 gram of 24-carat gold is selling at Rs 49,590 on Friday,
while 10 gram of 22-carat gold is selling at Rs 45,450.

In Kolkata, 24-carat gold is selling at Rs 50,100, while 22-carat gold's
price is at Rs 47,400, as per the Goodreturns website.

The price of gold varies across the country due to excise duty, state taxes,
and making charges.

In Chennai, the price of 1 kg of silver is at Rs 65,100 on Friday, while in
Delhi and Mumbai, the metal is selling at Rs 61,400.

INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

National Unity Day

December 22

Christmas Day

December 25

Boxing Day

December 26

Public Holiday in lieu of Boxing Day falling on a Sunday

December 27

Counters trading under cautionary

ART

Seed co Int.

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
the securities of more established companies. Neither Faith Capital nor any
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for guideline purposes only and sourced from third parties.

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