South Africa's rand was stable early on Tuesday, as investor focus shifted towards the situation in the Middle East.

At 0729 GMT, the rand traded at 18.4750 against the dollar , near its previous close of 18.4800.

The dollar index was last trading up 0.06% against a basket of currencies.

A ceasefire deal between the Palestinian militant group Hamas and Israel hung in the balance, after Hamas said it had agreed to a ceasefire proposal from mediators. Israel said the terms did not meet its demands.

There are no major local economic data due in South Africa on Tuesday, apart from the weekly bond auction.

On the stock market, both the Top-40 index and the broader all-share index was up around 0.4% in early trade.

South Africa's benchmark 2030 government bond was stronger in early deals, with the yield down 3.5 basis points to 10.555%. (Reporting by Bhargav Acharya; editing by Christina Fincher)