Bulls n Bears Daily Market Commentary : 19 December 2022

Mon Dec 19 17:07:04 CAT 2022

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Bulls n Bears Daily Market Commentary : 19 December 2022

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ZSE commentary

The ZSE All Share began the week strong adding 376.04 points to close at 15,719.01 points. Gains were recorded in DELTA CORPORATION LIMITED which had a $20.2716 jump to $285.6294, INNSCOR AFRICA LIMITED was $16.9432 up at $380.7618 and AMALGAMATED REGIONAL TRADING LIMITED added $1.6667 to $13.0000. FIDELITY LIFE ASSURANCE LIMITED  gained $1.3500 to $24.0000 and PROPLASTICS LIFE ASSURANCE LIMITED was up $1.0401 at $26.0401. Losses were recorded in FIRST MUTUAL HOLDINGS LIMITED which retreated by $0.6947 to $23.3053, FBC HOLDINGS LIMITED lost $0.5171 to $62.0000 and ECOCASH HOLDINGS ZIMBABWE LIMITED traded $0.3442 lower at $35.5949. AFRICAN SUN LIMITED  declined by $0.1431 to $24.3000 whilst ARISTON HOLDINGS LIMITED eased $0.067 to $3.748. 

EXCHANGE TRADED FUNDS (ETF)

OLD MUTUAL ZSE TOP 10 added $0.0473 to $5.5000. MORGAN & CO MULTI SECTOR EXCHANGE TRADED FUND and MORGAN & CO MADE IN ZIMBABWE EXCHANGE TRADED FUND remained flat at $23.9500 and $1.1868 respectively. CASS SADDLE AGRICULTURE EXCHANGE TRADED FUND decreased by $0.0300 to $1.7500 whilst DATVEST MODIFIED CONSUMER STAPLES EXCHANGE TRADED FUND shed $0.0475 to $1.5525 REAL ESTATE INVESTMENT TRUST TIGERE REAL ESTATE INVESTMENT TRUST remained flat at $34.0000.-zse

Global Currencies & Equity Markets

South Africa

Rand strengthens against dollar as Ramaphosa wins re-election

The rand strengthened by more than 2% against the dollar on Monday after Cyril Ramaphosa won re-election as ANC president. 

The local currency, which opened trade at R17.55 to the greenback, was changing hands at R17.22 just after noon on the news that Ramaphosa had won a second term. 

Ramaphosa got 2 476 votes against 1 897 for his rival, former health minister Zweli Mkhize. 

The rand also strengthened by more than 1% against the pound and the euro. 

Nigeria

Black Market Dollar To Naira Exchange Rate Today 19th December 2022

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N743 and sell at N744 on Sunday 18th December 2022, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)    Black Market Exchange Rate Today

Buying Rate N743

Selling Rate N744

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

The local currency opened at N747.00 per $1 at the parallel market otherwise known as the black market today Monday, 19 December 2022, in Lagos Nigeria, after it closed at N747.00 per $1 on Sunday morning, December 18, 2022.

Read Also:  Wise Partners With Tencent Financial Technology To China Through Weixin

Even though the dollar to naira opened in the parallel market at ₦747 per $1 today, Brand Spur Nigeria reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.

Brand Spur Nigeria reports that in the black market, the players buy a dollar for N743 and sell for N747 on Monday morning, December 19, 2022, after they purchased N743 and sold for N747 on Sunday morning, December 18, 2022.

Meanwhile, Brand Spur Nigeria reports that the USD started this week at ₦747 in Parallel Market also known as Black Market on Monday, December 19, 2022, in Lagos Nigeria, after it opened at ₦743 last week Monday, December 12, 2022.

Disclaimer: Brand Spur Nigeria does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

 <mailto:info at bulls.co.zw> 

Global Markets

Dollar slips as markets bounce, Japan policy shift talk lifts yen

(Reuters) - The U.S. dollar slipped on Monday as a pick-up in market sentiment drove stocks and riskier currencies higher, while the yen gained on reports that Japan will consider revising a decade-old blueprint for fighting deflation.

The dollar index - which tracks the greenback against a basket of six major currencies - fell 0.2% to 104.580 , reversing some of its gains from the previous week after the U.S. Federal Reserve and European Central Bank (ECB) hiked rates and promised more to come.

A rebound in risk sentiment across markets pushed European stocks higher after a bruising selloff last week, while currencies including the euro and sterling retraced some of their losses from the previous two sessions.

The euro gained 0.3% to $1.06095 , while sterling strengthened 0.3% to $1.21760 . However, both remained lower than their levels before last week's central bank moves.

"Markets are trying to find their feet a bit," said Kenneth Broux, currency strategist at Societe Generale. "I wouldn't hang my hat on the price action this morning."

The safe haven dollar has broadly gained this year, up 9%, on concerns about the global economy and widespread inflation. But it has slid nearly 7% in the fourth quarter as investors bet that peak inflation and economic recovery may be in sight.

The Japanese yen gained 0.2% on the day to 136.420 per dollar on reports Japan is considering revising a key monetary policy after a new Bank of Japan governor is appointed in April.

The government will consider revising a joint statement it signed in 2013 that commits the central bank to meeting a 2% inflation target as soon as possible, sources said.

"The upshot is this perhaps provides timely flexibility, but it doesn't bind monetary policy bias one way or another," said Vishnu Varathan, head of economics and strategy at Mizuho Bank, adding more clarity was needed for a bigger impact on the yen.

A survey of business morale in Germany showed a bigger increase than expected in December, supporting broader market risk sentiment, as the outlook for Europe's largest economy improved despite the energy crisis.

ECB vice-president Luis de Guindos said on Monday that the euro zone will continue to hike rates to curb inflation and is not considering revising its own mid-term inflation goal of 2%.

-The Thomson Reuters Trust Principles.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold gains Rs 231; silver climbs Rs 784

"Gold prices traded higher in the Asian trading hours. Comex gold prices are trading up by 0.32 per cent at USD 1,795 per ounce," said Dilip Parmar, Research Analyst at HDFC Securities.

Gold price rose Rs 231 to Rs 54,652 per 10 gram in the national capital on Monday amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 54,421 per 10 gram.

Silver also climbed Rs 784 to Rs 68,255 per kilogram.

"Gold prices traded higher in the Asian trading hours. Comex gold prices are trading up by 0.32 per cent at USD 1,795 per ounce," said Dilip Parmar, Research Analyst at HDFC Securities.

In the international market, gold was trading higher at USD 1,795.8 per ounce while silver was up at USD 23.30 per ounce.

INVESTORS DIARY 2022

Company

Event

Venue

Date & Time

National Unity Day

December 22

Christmas Day

December 25

Boxing Day

December 26

Counters trading under cautionary

CBZH

Meikles

Fidelity

TSL

FMHL

Turnall

GBH

ZBFH

GetBucks

Zeco

Lafarge

Zimre

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 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.

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