The bulk of today's activity took place in the normally illiquid FNBB which closed at 390t. There was also some activity in Letshego which closed at 230t.
The market continued to trade on negative sentiment lead by selling from local retail and international institutional investors, causing the EGX30 to end the day down 7bps. Market volumes were significantly low relative to recent turnovers, with total turnover at EGP282 million (USD 40.9m). The market continues to feed on negative sentiment. Local investors reverted to notable sellers after being notable buyers yesterday, targeting names such as ACGC, APSW, and HRHO which ended the day down 3.03%, 2.48%, and 2.14% respectively. AIND, COMI, and ESRS managed to gain investor interest today, each ending the day up 1.20%, 0.89%, and 0.36% respectively.
Foreign participation remains on the quiet side despite a pick-up in overall turnover. Some chunky activity in the blue chips KNCB (-53bps, KES 46.50), Equity Bank (unch, KES 35) and Safcom (-46bps, KES 10.80) were the main drivers of the overall activity while Bamburi also saw some decent activity (-47bps, KES 210). Outside of these names volumes were extremely muted, EABL closing marginally down at KES 325.
Much better day in Port Louis as value traded amounted to USD 1.76m. Banking giant MCB accounted for more than half of the day's turnover as 143k shares traded in the name with the counter gaining 0.61%. SBM was fairly active as 7.23m shares traded and also managed to close the day higher, gaining 0.96%. Nothmuch on the go in NMH as 10k shares traded.
After a very dull session for most of the day we saw volumes pick up dramatically in the last half hour. Tier 1 banks saw a big chunk of this late flurry particularly in the likes of zenith (-28bps, N21.30) and GTB (+72bps, N27.80). The banking sector was unchanged for the day. Consumers fell by 1.59% as weakness in Nestle (-3.96%, N1200), Dangote Sugar (-3.17%, N11) and Unilever (-3.89%, N59.01) hurt the sector. NB closed down 88bps at N168 on good volumes. Transcorp continues to behave a like a yoyo and closed limit up at N4.10 today with bids extremely strong.
Please note that the index figure above is correct at the time of writing.
The JSE had a torrid day as all sectors closed in the red while the Rand took a pummeling. The ZAR was trading at R10.32, R16.93 and R14.01 vs the USD, GBP and EUR respectively at the time of writing.
As was the case yesterday we saw special bargains in Delta and Econet driving volumes. Delta closed at 151c while Econet closed at 62.95c - both on good volumes. The marginal softness in these 2 names meant the Industrials Index lost a few bps today. CBZ also lost a bit of ground and closed at 15c.
Country |
Notation |
Currency |
YTD % |
South Africa |
ZAR |
10.34 |
-18.07 |
Nigeria |
NGN |
158.00 |
-1.17 |
Kenya |
KES |
86.65 |
-0.63 |
Mauritius |
MUR |
30.25 |
+0.99 |
Botswana |
BWP |
8.73 |
-12.19 |
Tanzania |
TZS |
1611.00 |
-1.63 |
Uganda |
UGX |
2527.50 |
+5.94 |
Rwanda |
RWF |
673.50 |
-6.24 |
Ghana |
GHS |
2.29 |
-17.02 |
BRVM |
XOF |
485.91 |
+2.75 |
Egypt |
EGP |
6.88 |
-7.60 |
Morocco |
MAD |
8.26 |
+2.41 |
Tunisia |
TND |
1.66 |
-7.15 |