The market managed to pick its bullish momentum leaving the EGX30 to end the day up 1.02%. Market volumes were low relative to recent turnovers as the market traded a total turnover of EGP383m. The market managed to regain its bullish momentum after witnessing some profit booking over the last couple of sessions, as institutional investors (local and International) stepped in the market as net-buyers benefiting from the recent selling, names such as COMI, HRHO, and GTHE witnessed notable interest leaving each to end the day up 1.64%, 1.77% and 1.59%. It’s worth mentioning that med/small caps witnessed notable interest leaving the EGX70 to end the day up 1.75%, names such as UEGC, EIUD and PIOH managed to trade strong volumes to end the day up 5.60%, 5.44% and 2.98% respectively.
The NSE did not cover itself in glory today. Systems issues meant that the market was down for most of the day but it was the lack of communication from the NSE that was most frustrating for market participants. In the time that the market was actually open, we saw a cross in EABL go through at KES 326, the name eventually closing at that level (-91bps). Safcom was up at KES 8.75 when the market shut but will close officially at KES 8.70 due to the closing price rule. Other activity was extremely muted due to the restricted trading time.
Some chunky action in SBM (unch, Rs1.01) was the highlight of trading activity for the day while some normally illiquid names like PBL also saw some reasonable activity. In the Sem-7, only 2 stocks actually changed prices, these being ENL Land (+10bps, Rs48) and Terra (+25bps, Rs40.10).
The Top 40 slid marginally today with Golds the big faller on the back of the US government shutdown. The Rand continues to remain range-bound and was trading at R10.07, R16.34 and R13.64 vs the USD, GBP and EUR respectively at the time of writing.
Chunky and bullish trading in Delta lifted both market turnover and market performance in the ZSE today. 5.5m Delta traded at the price of 125c (+80bps) with strong foreign participation on both sides. Outside of the Delta the market was very quiet although the Industrials rose by 44bps for the day with Delta being the leading reason for the outperformance. There were also price increases in Meikles (+30%, 26c), Padenga (+14.91%, 6.55c), BATZ (+4.35%, 1200c) and PPC (+4.17%, 250c). There were no trades in the Mining sector.
Country |
Notation |
Currency |
YTD % |
South Africa |
ZAR |
10.04 |
-15.64 |
Nigeria |
NGN |
161.55 |
-3.34 |
Kenya |
KES |
86.40 |
-.35 |
Mauritius |
MUR |
30.51 |
+0.13 |
Botswana |
BWP |
8.57 |
+10.17 |
Tanzania |
TZS |
1611.00 |
-1.61 |
Uganda |
UGX |
2555.00 |
+4.80 |
Rwanda |
RWF |
658.41 |
-4.80 |
Ghana |
GHS |
2.18 |
-12.64 |
BRVM |
XOF |
487.28 |
+2.47 |
Egypt |
EGP |
6.89 |
-7.67 |
Morocco |
MAD |
8.27 |
+2.26 |
Tunisia |
TND |
1.64 |
-5.70 |