Some action in Letshego (235t) and Choppies (400t) about the only excitement today.
With no significant news to move the market, it continued to trade in a narrow range leaving the EGX30 to end the day up 0.45% to close at 7975.91 points. Market volumes were within average turnovers as the market traded a total turnover of USD 118m. Retail back buying the dip investors dominated the session in terms of trading, accounting for more than 85% of the total turnover, targeting mainly mid/small caps such as ACGC (-0.90%), OTMT(+1.44%) and EGTS(+1.61%). ETEL(+1.77%) managed to pick up very strong momentum to close the highest since 2012 on very high volumes, this comes after the Egyptian government stated that it may issue a unified telecom license in a “few” weeks. LCSW(-1.20%) witnessed selling pursue after the company reported a EGP85.4 million loss in 2013 versus EGP19.3 million in profit a year earlier.
Very slow day in Nairobi as value traded amounted to a dull $3.4m with foreigners dominating what little trade there was. Safcom managed to put on a small rally as the telco gained 0.4% to close at KES 11.80. EABL (+1.2%) also closed the day higher on the back of foreign participation. A cross in the usually illiquid Trancentury helped boost activity as a total of 1.01m shares changed hands.
Despite a drop in the broader index we actually saw the Sem-7 rise by 25bps. This was due to strength in the banks as MCB rose by 23bps to Rs213.50 and SBM increased by 96bps to Rs1.05. These were offset by falls in Alteo (-44bps, Rs33.70), ENL Land (-10bps, Rs49.45) and Terra (-26bps, Rs38.40).
Some strong buying came through towards the end of the session. The banks gained an impressive 2.23% with almost all banking names closing in the green. The top performers were Skye (+5.9%, N3.77), GTB (+4%, N26) and ETI (+3.45%, N15). A late surge in NB helped the consumers to increase by 69bps. NB closed up 2.33% at N149.50 on decent volumes. Wapco also saw decent action and closed up 7bps at N110.11.
Please note that the index figure above is correct at the time of writing.
The JSE ended the day lower with the Top 40 Index falling 1.09% to close at 42,735 while value traded amounted to USD 1.31bn. Resources were the day's biggest losers with the Index falling 1.94% followed by Financials and Industrials which fell 0.73% and 0.62% respectively. The Rand was trading at 10.77 and 14.91 to the USD and EUR respectively by the time local markets closed.
A block trade in Econet at 67c bumped volumes in Harare to a very respectable $5m. The mainstream Industrials Index still fell though with softness recorded in Delta (-20bps, 122.4c), Innscor (-1%, 74c) and BAT (-8%, 1200c). Foreign participation was much improved on the back of both sides of the Econet trade being foreign.
Country |
Notation |
Currency |
YTD % |
South Africa |
ZAR |
10.77 |
-2.61 |
Nigeria |
NGN |
164.37 |
-2.48 |
Kenya |
KES |
86.50 |
-0.23 |
Mauritius |
MUR |
30.05 |
unch |
Botswana |
BWP |
8.82 |
-1.22 |
Tanzania |
TZS |
1630.00 |
-2.45 |
Uganda |
TZSUGX |
2518.13 |
+0.35 |
Rwanda |
RWF |
681.51 |
-0.81 |
Ghana |
GHS |
2.57 |
-7.59 |
BRVM |
XOF |
475.92 |
+0.91 |
Egypt |
EGP |
6.96 |
-0.19 |
Morocco |
MAD |
8.12 |
+0.76 |
Tunisia |
TND |
1.56 |
+4.64 |