Nesan Nair from Sasfin Securities chose rand hedge British American Tobacco (BAT) as his stock pick of the day. “Right now you want to stay defensive and it is very difficult to pick SA counters right now. Retailers are a group to stay away from, the banks look cheap but they are most probably going to be hit harder; it depends on what the budget comes up with. But for the time being, stay rand hedged.”

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