Bulls n Bears Daily Market Commentary : 03 July 2023

Tue Jul 4 07:52:45 CAT 2023

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Bulls n Bears Daily Market Commentary : 03 July 2023

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

ZSE commentary

Zimbabwe Stock Exchange (ZSE) 

The overall Market Cap for today closed at ZWL$13.76 trillion with a
percentage drop of 1.65%. Total turnover decreased by 52.75% to with a value
of ZWL 589 million, Total Volumes Traded also   decreased by 4.98% to later
close at ZWL5.62 million. Nampak Zimbabwe, Delta and BAT Zimbabwe were
today's three most traded counters, constituting 89% of the total turnover.

The benchmark All-Share Index trimmed 1.70% to close with 168,491.91 points
at the back of 17 raisers and 10 decliners. The Top 15 Index decreased by
2.19% to close at 116,222.08 points and the Top 10 Index also dropped by
2.78% to 90,448.05 points. 

Leading the raiser's list for the day was First M. Limited and General
Beltings Holdings after advancing by 15.00% and 14.91% each to close at
$162.55 and $9.25, respectively. Ariston and Truworths followed after each
added 14.67% and 14.29% to close at a price of $34.00 and $11.60,
respectively. Rainbow Tourism Group capped the winner's top 5 list for the
day after gaining 11.42% to close at $94.54. 

On the laggards' list, CBZ Holdings and Unifreight Africa lost 15.00% and
14.03% to close at $1,796.80 and $204.60, respectively. Meikles Limited and
Tanganda Tea Co. Ltd pulled back by 9.93% and 4.24% to close at $1,170.97
and $1,358.35, respectively. Delta capped the list after dropping by 1.56%
to close at $3,052.08. 

Victoria Falls Stock Exchange (VFEX) 

The VFEX Market Cap closed at US$ 1.42 million, with a percentage increase
of 220.19%..-Akribos Securities

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

South Africa

South African rand strengthens against the dollar

(Reuters) - The South African rand strengthened on Monday, recovering some
losses incurred last week along with other emerging market currencies.

At 1523 GMT, the rand traded at 18.7350 against the dollar , 0.48% higher
than its closing level on Friday.

The dollar last traded at 102.98, around 0.03% stronger against a basket of
global currencies.

The rand seemed unperturbed by a local survey on Monday, which showed South
African manufacturing activity contracted for the fifth consecutive month in
June due to a worsening of business conditions.

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However, analysts warned that the risk-sensitive rand was susceptible to
further weakness in the near-term amid hawkish tones by central banks around
the world including the Federal Reserve.

"The minutes of the last FOMC meeting are due out on Wednesday, and will
allow markets to more deeply scrutinise the reasoning of US monetary policy
makers, and attempt to glean insight on the likely length of the pause in
the cycle," said Investec analyst Annabel Bishop in a research note.

Shares on the Johannesburg Stock Exchange rose slightly, with both the
broader all-share index (.JALSH) and the Top-40 index (.JTOPI) closing
around 0.3% higher.

South Africa's benchmark 2030 government bond was slightly stronger, with
the yield down 1 basis point to 10.500%.

Nigeria

South African rand strengthens against the dollar