An aggressive buyer pushed the price in Letshego up to 225t which pushed the index higher by more than 1%. Letshego was also the most traded stock accounting for almost the entire market
The market witnessed some profit taking today lead by institutional investors (local and foreign) ending as net sellers by EGP73.44 million, leaving the EGX30 to end the day down 1.18% to close at 8,340 points on low volumes of EGP747 million. The index witnessed some profit booking after trading a weak session in the green yesterday. TMGH, OTMT, AMER, and COMI witnessing notable selling pressure, each ending the day down 1.77%, 0.79%, 0.72% and 1.52% respectively. HRHO, CIEB, and ETEL managed to hold ground to trade against the market sentiment, each ending the day up 0.33%, 1.40%, and 0.44% respectively.
Foreign buying was again evident today in Nairobi. A large cross (both sides foreign) in EABL accounted for almost 50% of the total turnover as the brewer edged higher by 70bps to KES278. Equity Bank remains well bid and gained another 60bps today to KES44.50 while KNCB was solid and unchanged at KES49.75. Safcom ended the day unchanged at KES12.80 while Co-op Bank saw chunky local trading.
The Mauritian bourse fell today on the back of selling in the 2 main banks. MCBG fell by 46bps to Rs217 while SBM fell by 95bps to Rs1.04. Elsewhere in the Sem-7 we saw gains in NMH (+60bps, Rs83.50) and Alteo (+59bps, Rs34.20) while ENL Land fell by 61bps to Rs49.20.
The trend in the market continues with general trading rather quiet interspersed with some crosses. Banks took another backwards step by falling by 1.14%. Most names were broadly unchanged although Zenith Bank was the biggest drag on the sector as it lost 3.23% to N24.00. There were decent volumes in GTB, Zenith, Access and FBNH. Consumers fell by 1.01% with NB continuing to behave like a yoyo (-1.2%, N165) while Nestle followed suit (-1.87%, N1050). Volumes in the consumer sector was again heavily skewed to NB and Nestle. Oando’s strong rally continued (+10%, N27.56) after yesterday’s official ConocoPhilips announcement.
Please note that the index figure above is correct at the time of writing.
The Industrials index was strong although volumes were light. Q2 has been a revelation after a torrid first quarter in Zimbabwe – the main index is now down just 8.5% YTD. Today’s session was almost entirely local participation with Delta continuing on its strong run (+3.41%, 121c) while Seedco gained 1.73% and BAT gained 1.24%. Econet remained unchanged at 73.5c.
Country |
Notation |
Currency |
YTD % |
South Africa |
ZAR |
10.64 |
- 1.46 |
Nigeria |
NGN |
163.35 |
-.1.86 |
Kenya |
KES |
87.85 |
-.1.76 |
Mauritius |
MUR |
30.30 |
-.0.83 |
Botswana |
BWP |
8.83 |
+.0.99 |
Tanzania |
TZS |
1683.00 |
-5.53 |
Uganda |
UGX |
2580.00 |
-2.05 |
Rwanda |
RWF |
690.00 |
-2.03 |
Ghana |
GHS |
3.32 |
-28.46 |
BRVM |
XOF |
484.14 |
-0.81 |
Egypt |
EGP |
7.15 |
-2.84 |
Morocco |
MAD |
8.23 |
-0.62 |
Tunisia |
TND |
1.66 |
-1.17 |