Bulls n Bears Daily Market Commentary : 09 March 2021

Tue Mar 9 18:03:28 CAT 2021

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Bulls n Bears Daily Market Commentary : 09 March 2021

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

ZSE commentary

The ZSE All share index pared 1.10% to 4 574.79 in a session which yielded
22 risers against 18 fallers. Activity levels improved to 491 trades on a
higher turnover of ZW$881.5 million. Total traded volume was 35% lower at 14
460 517 million shares with CBZ trading a huge number at 8 276 729 million
shares. Top gains were in the Small Cap Index which put on 4.13% to 38
294.57. Medtech, Mashonaland Holdings and GBH were among the small cap
risers in today's session. The Top 10 Index, Top 15 Index closed lower after
shading 2.80% and 2.44% respectively. The Medium Cap Indices closed the day
in the positive territory adding 1.75% to 10 740.19.

Simbisa brands  led the top 5 risers after gaining 18.16% to 2998.9c.
Medtech Holdings and Fidelity  followed the riser's pack gaining 17.77% and
16.51% respectively. The hotelier African Sun and the property giant
Mashonaland Holdings followed after gaining 14.48% to close at 250.05c and
13.03% to 197.64c respectively. The gains were reversed by losses in banking
holding companies CBZ and FBC Holdings which shaded 12.91% to 8448.05c and
6.62% to 2801.49c respectively. Dairibord followed the shakers pack after
losing 5.70%. The tobacco giant TSL  was down 4.34% to 4300c. Zimplow pared
3.16% to 797.78c. The Old Mutual Top Ten ETF closed today at 184.03c after
14 460 517 units with a value of ZW$5 952 901.58 in 12 trades exchanged
hands.-wealthaccess

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

Global Currencies & Equity Markets

South Africa

South Africa's rand recovers from 2-month low, all eyes on GDP data

JOHANNESBURG (Reuters) - South Africa's rand rebounded in early trade on
Tuesday, after sinking to a two-month low in the previous session in a broad
emerging market sell-off, as rising U.S. Treasury yields hurt appetite for
riskier assets.

At 0640 GMT, the rand traded at 15.4700 against the dollar, 0.42% firmer
than its previous close. The currency slipped to a two-month low of 15.5700
on Monday.

Rising yields on long-term U.S. bonds, often a proxy for global lending
rates, coupled with the passing of a large fiscal stimulus and improved
economic data, have wreaked havoc on risk assets, with some investors seeing
it as a precursor for tighter monetary policy.

Local focus is on the release of gross domestic product (GDP) data for the
last quarter of 2020 at 0930 GMT.

South Africa's GDP expanded by 66.1% quarter on quarter in the third
quarter, and analysts polled by Reuters expect growth of 5% in the three
months to Dec. 31.

Government bonds also firmed in early deals, with the yield on the
instrument due in 2030 down 6 basis points to 9.500%.

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

Global Markets

Dollar falls back from three-and-a-half month highs as yields stabilize

The index that measures the dollar's strength against a basket of other
currencies was 0.4% lower by midday in London, at 92.003, after hitting a
3-1/2 month high of 92.506 during Asian trading hours.

U.S. 10-year Treasury yields fell as low as 1.5230%, down for a second day
and off last week's high of 1.6250%.

The dollar on Tuesday fell back from 3-1/2 month highs as U.S. Treasury
yields stabilized, allowing room for riskier currencies such as the pound,
Australian dollar and Kiwi dollar to make gains.

The index that measures the dollar's strength against a basket of other
currencies was 0.4% lower by midday in London, at 92.003, after hitting a
3-1/2 month high of 92.506 during Asian trading hours.

U.S. 10-year Treasury yields fell as low as 1.5230%, down for a second day
and off last week's high of 1.6250%.

Traders are wary yields could rise further this week as the market will have
to digest a $120 billion auction of 3-, 10-, and 30-year Treasuries,
especially after last week's soft auction and a 7-year note sale that saw a
spike in yields.

The Norwegian crown, an oil-linked currency, gained 0.7% to 8.4789 per
dollar. Oil prices have climbed in recent days on expectations of a recovery
in the global economy and on a likely drawdown in crude oil inventories in
the United States, the world's biggest fuel consumer. They shot up on Monday
after an attack on a Saudi Arabian oil export facility.

The Australian dollar and New Zealand dollar gained 0.8% to $0.7702 and
$0.7165 respectively.

The euro rose half a percent to $1.19155 and sterling gained 0.4% to
$1.3871, both currencies benefiting as the dollar took a breather.

The dollar index has firmed more than 2% year-to-date, as upbeat
macroeconomic data, combined with accommodative monetary policy, has lifted
bond yields and hit highly valued U.S. technology stocks.

The greenback's rise comes in the face of broadly bearish forecasts laid out
at the start of this year. Analysts at BCA Research put the currency's gains
down to three reasons.

All eyes will now be on the U.S. Federal Reserve's two-day meeting next
week, although expectations are low that the central bank will announce
major policy changes after Chair Jerome Powell last week did not express
concern about the rise in bond yields.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold gains marginally; silver jumps Rs 553

Gold in the national capital on Tuesday gained marginally by Rs 35 to Rs
43,996 per 10 gram amid gain in global precious metal prices, according to
HDFC Securities. 

Gold in the national capital on Tuesday gained marginally by Rs 35 to Rs
43,996 per 10 gram amid gain in global precious metal prices, according to
HDFC Securities. The precious metal had in the previous trade closed at Rs
43,961 per 10 gram. Silver also jumped Rs 553 to Rs 65,621 per kilogram from
Rs 65,068 per kilogram in the previous trade.

In the international market, gold was quoting with gains at USD 1,696 per
ounce and silver was flat at USD 25.50 per ounce.

INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

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
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