Bulls n Bears Daily Market Commentary : 08 March 2021

Mon Mar 8 16:01:55 CAT 2021

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Bulls n Bears Daily Market Commentary : 08 March 2021

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

ZSE commentary

The ZSE maintained gains opening this week with marginal gains. The ZSE All
share index put on 0.21% to 4 625.63 in a session which yielded 2 risers
against 14 fallers. Activity levels declined to 464 trades on a lower
turnover of ZW$61.8 million. Total traded volume was higher at 22 311 253
million shares with Medtech trading a huge number at 12 973 900 million
shares. Top gains were in the Small Cap Index which put on 6.61% to 36
777.13. Turnall, NTS and Unifreight led the overall risers with over. The
Top 10 Index, Top 15 Index closed lower after shading 0.41% and 0.19%
respectively. The Medium Cap Indices closed the day in the positive
territory adding 1.09% to 10 555.71.

Turnall led the top 5 risers after gaining 19.98% to 310.75c. National Tyre
Services and Unifreight followed the riser's pack gaining 19.92% and 11.34%
respectively. Dairibord which is trading under a cautionary statement and
Meikles followed after gaining 7.89% to close at 1940c and 7.67% to 4950c
respectively. The gains were reversed by losses in Hippo and Ariston
Holdings which shaded 11.67% to 11500c and 6.17% to 215.17c respectively.
Star Africa followed the shakers pack after losing 5.28%. The hoteiler RTG
was down 4.96% to 190c. Mashonaland Holdings pared 3.04% to 174.85c. The Old
Mutual Top Ten ETF shaded 0.62% to 183.97c after 1 643 405 units with a
value of ZW$3 023 443.79.-wealthaccess

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

Global Currencies & Equity Markets

South Africa

South Africa's rand weaker as risk-on trade loses momentum

JOHANNESBURG (Reuters) - South Africa's rand fell slightly in early trade on
Monday, as the dollar hovered near three-month highs after the U.S. Senate
cleared a bumper stimulus bill, sparking a sell-off in the global bond
market.

At 0620 GMT, the rand traded at 15.3600 against the dollar, compared with a
close of 15.3525 on Friday when it hit its lowest in nearly two months.

Emerging currencies came under pressure as the dollar firmed on the back of
stronger-than-expected U.S. jobs data and the pandemic relief bill.
[EMRG/FRX]

The U.S. Senate passed the COVID-19 relief plan on Saturday and U.S.
President Joe Biden said he hoped for a quick passage of the revised bill by
the House of Representatives.

The rand also tracked a pullback in currencies of major commodity exporters
as a broader risk-on trade lost momentum.

Government bonds were also weaker in early deals, with the yield on the
instrument due in 2030 up 4 basis points to 9.360%.

Nigeria

Naira starts week at N411/$1 as oil price finally hits $70

Naira depreciated against the US Dollar on Friday as it closed at N411 to a
dollar at the NAFEX window as oil price rallies to $69.36 per barrel

Friday 5th March 2021: The exchange rate between the naira and the US Dollar
closed at N411/$1 at the Investors and Exporters window, where forex is
traded officially.

Naira depreciated against the US Dollar on Friday as it closed at N411 to a
dollar at the NAFEX window, representing a 1.11% decline when compared to
N406.5/$1 recorded on the previous day.

Meanwhile, the naira remained stable against the dollar in the parallel
market to close at N480/$1 on Friday, March 5, 2021. This was the same rate
that it closed on the previous trading day (Thursday).

Forex turnover, however, increased by 25.3% on Friday to stand at $83.93
million compared to $66.99 million recorded on Thursday, while crude oil
prices are edging closer to the predicted $70 per barrel in the global oil
market.

The Naira depreciated against the US Dollar at the Investors and Exporters
window on Friday to close at N411/$1. This represents a N4.5 loss when
compared to N406.5 recorded on the previous trading day.

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

Global Market

Rupee falls 14 paise to 73.16 against US dollar in early trade

The Indian rupee slumped 14 paise to 73.16 against the US dollar in opening
trade on Monday, as rising crude oil prices and strengthening of the
American currency in the overseas market weighed on investor sentiment. At
the interbank forex market, the domestic unit opened at 73.13 against the US
dollar, then fell further to 73.16 against the American currency,
registering a decline of 14 paise over its previous close.

On Friday, the rupee had settled at 73.02 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a
basket of six currencies, rose 0.07 percent to 92.04.

However, foreign fund inflows into the equity markets, along with corporate
dollar flows could cap depreciation bias, the note added. On the domestic
equity market front, the 30-share BSE benchmark Sensex was trading 544.62
points higher at 50,949.94, and the broader NSE Nifty advanced 159.25 points
to 15,097.35.

Foreign institutional investors were net sellers in the capital market as
they offloaded shares worth Rs 2,014.16 crore on Friday, according to
exchange data.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold retreats on elevated U.S. yields, strong dollar

(Reuters) - Gold prices retreated on Monday, halting a rebound from a
nine-month low touched last week, as the dollar firmed, while U.S. treasury
yields remained elevated, denting bullion's appeal.

Spot gold was down 0.6% to $1,691.27 per ounce at 1141 GMT, after hitting
its lowest since June 8 at $1,686.40 on Friday. U.S. gold futures declined
0.7% to $1,686.10.

The dollar climbed to a three-month peak, while U.S. 10-year Treasury yields
held close to a more than one-year high, increasing the opportunity cost of
holding gold, which pays no interest.     

Helping gold recoup some of its losses earlier during the Asian session, the
U.S. Senate passed President Joe Biden's $1.9 trillion COVID-19 relief plan.

Gold also saw some support earlier in the day, following an attack on Saudi
Arabia's oil industry on Sunday.      

While gold is considered a hedge against inflation likely stemming from
widespread stimulus, higher bond yields this year have threatened that
status because they translate into a higher opportunity cost of holding
bullion. 

Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold
Trust , fell to a 10-month low on Friday.

Silver rose 0.4% to $25.28 an ounce. Palladium shed 0.2% to $2,332.90, while
platinum rose 1.2% to $1,143.51.

INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

Counters trading under cautionary

ART

Seed co Int.

Dairibord

Starafrica

Medtech

Turnall

Seed co

Invest Wisely!

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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
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subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
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opinions expressed and recommendations made are subject to change without
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