Bulls n Bears Daily Market Commentary : 25 March 2022

Sat Mar 26 08:19:27 CAT 2022

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Bulls n Bears Daily Market Commentary : 25 March 2022

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ZSE commentary

The ZSE shares closed this week near flat after gaining marginally ahead of
the publication of this month inflation figures. Activity levels were at 395
trades. OK Zimbabwe was the most active stock at 33 trades followed by Star
Africa and Delta at 27 and 25 trades respectively. Investor sentiment was
positive after the session yielded 17 gainers against 16 fallers while six
(6) of the active stocks remained unchanged. OK Zimbabwe anchored volume
aggregate trading 1,685,400 shares and Delta anchored value aggregate with a
value of ZW$67.44 million. The All-Share Index added 0.57% to close at
15,581.92 points. The Top 10 Index added 0.01%. 

The Top 15 Index added 0.39%. The Medium Cap Index was up by 1.96% to
25,692.63 points whilst the Small Cap Index added 2.49% to 399,696.21
points. Leading the risers pack of the day was FBC Holdings and NTS closed
20.00% higher each. First Mutual Properties was up by 18.05%. African Sun
added 14.49% and Hippo added 9.07%. Mitigating the gains were losses in
Wildale and NMB Holdings which shaded 14.83% and 14.19% respectively. GB
Holdings was down by 11.45%. Edgars and Art Corporation shaded 6.52% and
5.00% respectively. The ETFs traded 4,003,128 units worth ZW$7,313,122.70 in
160 trades. The Old Mutual Top 10 ETF shaded 0.09% to close at 995.26c while
the Morgan and Co Multi Sector ETF added 1.51% to close at 1411.45c. The
Datvest MCSI ETF added 4.69% to close at 175.60c. On the VFEX, Padenga
traded 122,790 shares to close unchanged and Bindura traded 1,212,150 shares
to close at US 5.14 cents up 1.55%. wealthaccesssecurities

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

South Africa

South Africa's rand slips from 5-month high after lending rate hike

(Reuters) - South Africa's rand weakened from a five-month high against the
dollar on Friday, although it still recorded a weekly gain, after the
central bank raised the repo rate, citing inflation risks linked to the
Ukraine crisis.

The Thomson Reuters Trust Principles.

Nigeria

Naira sinks to N587/$1 at parallel market as forex scarcity persists

Nigerian naira weakened to N587 per dollar at the parallel section of the
foreign exchange (FX) market.

The drop is N2 or 0.3 percent from the N585 it traded last week as dollar
scarcity persists at official and the parallel markets, better known as the
black market.

Black market traders in Lagos who spoke to TheCable on Friday quoted the
buying rate of the greenback at N583 and the selling price at N587 per
dollar.

A parallel market is characterised by noncompliant behaviour with an
institutional set of rules.

Since the suspension of trading information by abokiFX - citizens have
resorted to street traders for current parallel market rates of the local
currency.

However, the Central Bank of Nigeria (CBN) has consistently maintained that
the parallel market represents less than one percent of foreign exchange
(FX) transactions and should never be used to determine the naira/dollar
exchange rate.

On the official market side, the naira depreciated by 0.24 percent to close
at N416 to a dollar on Thursday, according to data on FMDQ OTC Securities
Exchange, a platform that oversees official foreign-exchange trading in
Nigeria.

Eight months ago, the CBN stopped the sale of forex to Bureau De Change
(BDC) operators.

The apex bank said that it would channel weekly FX allocations hitherto
meant for BDCs to commercial banks.

But due to dollar shortages, some banks have also limited customers' access
to forex, placing a cap of $20 per month for online transactions.

Analysts at Investment One said the FX market would continue to be dictated
by heightened dollar demand and policies of the CBN.

 <mailto:info at bulls.co.zw> 

Global Markets

Indian rupee surges 18 paise to 76.15 against US dollar in early trade

At the interbank foreign exchange, the rupee opened at 76.15 against the US
dollar, registering a rise of 18 paise from the previous close, even as the
domestic equities were trading in the negative territory.

The rupee advanced 18 paise to 76.15 against the US dollar in the opening
trade on Friday, tracking the weakness of the American currency in the
overseas market.

At the interbank foreign exchange, the rupee opened at 76.15 against the US
dollar, registering a rise of 18 paise from the previous close, even as the
domestic equities were trading in the negative territory.

In the previous session, the rupee had appreciated 6 paise to settle at
76.33 against the US dollar.

Global oil benchmark Brent crude futures rose 0.22 per cent to USD 119.29
per barrel.

Meanwhile, the dollar index, which gauges the greenback's strength against a
basket of six currencies, fell 0.33 per cent to 98.46.

On the domestic equity market front, the 30-share Sensex was trading 140.88
points or 0.24 per cent lower at 57,454.80, while the broader NSE Nifty
slipped 39.50 points, or 0.23 per cent, to 17,183.25.

Foreign institutional investors remained net sellers in the capital market
on Thursday as they sold shares worth Rs 1,740.71 crore, according to stock
exchange data.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold trading at Rs 52,590 per 10 gm today; silver selling at Rs 70,000/kg

The price of 10 gram of 24-carat gold on Saturday went up by Rs 280 to Rs
52,590, while the price of 1 kg of silver increased by Rs 1500 to Rs 70,000.

Ten gram of 22-carat gold is trading at Rs 48,200 after an increase of Rs
250.

The price of 10 gram of 24-carat gold in Delhi and Mumbai stood at Rs 52,590
while the 10 gram of 22-carat gold in Mumbai and Delhi is trading at Rs
48,200.

The price of 10 gram of 24-carat gold in Bangalore, Hyderabad, and Kolkata
happens to be on par with the price of 24-carat gold in Delhi and Mumbai
i.e. Rs 52,590, while the price of 22-carat gold in Bangalore, Hyderabad,
and Kolkata is Rs 48,200.

Ten gram of 24-carat gold on Saturday in Chennai is trading at Rs 52,960,
while ten grams of 22-carat gold in Chennai is trading at Rs 48,540.

The price of gold differs in regions based on parameters such as making
charges, excise duty, and state taxes.

The price of 1 kg of silver in Delhi, Kolkata, and Mumbai on Saturday is Rs
70,000, whereas the price of 1 kg of silver in regions such as Bangalore,
Hyderabad, Kerala, and Chennai stood at Rs 73,800.

INVESTORS DIARY 2022

Company

Event

Venue

Date & Time

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
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for guideline purposes only and sourced from third parties.

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