A rather slow start to the week with turnover ending the day at USD16k. Vols were dominated by Turnstar which accounted for The DCI edged up 0.12% to 6899.95pts. Choppies was the only counter to record movement today, ending 5t higher at 160t.
The market ended the day slightly lower, leaving the EGX30 to end the day down 0.10%, having been down as much as 2.50% at the first hour, the EGX30 closed at 4530.73 points. Volumes remain strong, market traded total turnover of USD 76m. After yesterday's minor clashes in front of Maspero between pro- and anti- SCAF protesters, the market witnessed increased profit booking activity from retail investors along with international investors week. EMOB traded against the general market sentiment, the name ended the day up 6.67%, this came after speculation increased that the put option held by OTMT will be exercised this year at the strike price of around EGP242 which represents a significant upside on today's price.
• Foreigners were net Sellers by 36.29 mn EGP and were 19.43% of the market.
• Egyptians were net Buyers by 46.08 mn EGP and were 73.65% of the market.
• Arabs were net Sellers by 9.78 mn EGP and were 6.92% of the market.
• Institutions were net Sellers by 15.32 mn EGP and were 34.71% of the market.
• Retail were net Buyers by 15.33 mn EGP and were 65.28% of the market.
The Nairobi bourse commenced the week higher with the NSE up 0.70%. Market turnover however fell by 79.3%. EABL, mainly traded by foreign investors, was the day’s top mover (41% of total value traded). Safaricom eased 3% to KES 3.24 as a joint appeal by Kenya’s telcos to have lower tariffs commence in January 2012 rather than midyear, got rejected by the regulator. Kenya Airways eased just 2% to KES 19.88. Uchumi Supermarkets added 0.7% after posting a 25.9% rise in 1H12 profits. Eveready shed 2.9% to KES 1.70 after the battery maker announced it had made a loss in FY11.
The market commenced the week on a positive note, driven by the hotel sector. The Semdex and The Sem 7 increased by 0.23% and 0.30% respectively. NMH edged up 1.3% to Rs77. Lux saw 60,600 shares trade in the name at Rs22.50. up 1.8%. Sun Resorts rose by 1.2% to Rs41.50. On the banking side, MCB gained 0.6% to Rs166 while SBM lost 0.63% to Rs79.
The Nigerian ASI fell 0.71% while value traded amounted to USD 5.47m. Top traded stocks were N.E.M Insurance, Fidelity Bank, Goldlink Insurance, UBA, GTB, First Bank, FCMB, Skye Bank, Transcorp Plc and Zenith Bank. Top losers of the day were MRS Oil Plc (-5.00%), Conoil Plc (-5.00%), Custodian and Allied Insurance (-5.00%), Oando Plc (-4.97%) and NCR Plc (-4.94%). The gainers were led by Presco Plc (4.98%), Nigerian Aviation Handling Company (4.97%), BOC Gases (4.92%), Eterna Oil (4.87%) and BAGCO Plc (3.85%). The banking sector ASI closed down 155bps. First Bank closed down 3.85% at N9.48 and traded 9.24m units while Skye Bank closed down 2.86% at N3.40 trading 6.11m units. Fidelity Bank closed up 1.36% at N1.49 and traded 71m units. The sector also had crosses of 87m units of Fidelity Bank, 4.6m units of Skye Bank and 8.7m units of FCMB. In the building materials sector, Cement Company of Northern Nigeria closed flat at N5.24 and traded 100k units while Lafarge Wapco also closed flat at N44.35 and traded 92k units. Dangote Cement closed down 0.83% at N119 and traded 218K units in total. In the food and beverages sector, Nigerian Breweries closed flat at N92.08 and traded 304k units while Dangote Sugar closed up 1.81% at N5.05 with 2.54m units traded. Guinness closed down 4.13% at N220.50 trading 363k units. There were also crosses of 30m units of Goldlink Insurance Plc, 84m units of N.E.M Insurance Plc and 1.4m units of Guaranty Trust Assurance Plc.
The JSE ended the day lower with the Top 40 Index falling 0.92% to close at 30,044 while value traded amounting to USD 1.53bn. Resources were the day's biggest losers with the Index falling 1.52% followed by Financials and Industrials which fell 1.21% and 1.0% respectively. The Rand was trading at 7.86 and 10.29 to the USD and EUR respectively by the time local markets closed.
The market recorded a turnover of USD 20,287. The counters that traded today included FQM, PUMA and ZNCO. The biggest contributor towards turnover was FQM, 15,500 zdr’s traded at an average price of ZMK 4,500, turnover amounted to USD 13,950. The second biggest contributor towards turnover was ZNCO, 15,255 shares traded at an average price of ZMK 1,205, turnover amounted to USD 3,676.
The industrial index opened the week firm trades gaining +0.31% to 137.64pts breaking a 7-day decline albeit on thin trades as 5.2m units traded while only 34% of the listed were active. Value traded declined 74% to $0.312m due to the minimal participation of foreign investors as foreign buying was a negligible $4912 while foreign selling amounted to $91 132. Sentiment remained largely positive as gainers outnumbered losers by 11 to 5 counters. Notable among risers was Innscor which reversed Friday losses to add +1c or 1.81% to 56.1c, BAT added +3.23% or 5c to 160c while firm buying in Barclays saw the group rise +2.44% to 4.2c despite indigenization fears. Retailing giant OK added a marginal 0.01% to 10.01c after opening a new state of art retail shop in Harare. Interfresh and Ariston led the gains advancing +20% and 16.67% to 0.42c and 1.4c respectively. Old Mutual took a breather after 3 days of consecutive rise dropping -0.58% to 155c but remains firm buyers at 155c while an optimistic seller is offering at 200c. Zimplow dropped -6.25% to 7.5c being the worst performing stock while African Sun which had enjoyed a fin e run over the past two weeks to peak at 0.85c dropped +5.88% to 0.8c. Beverages giant Delta was steady at 68c despite strong buying with only 64 777 units trading sellers are offering at 69c. Econet remains steady at 370c on local buying but remains largely net sellers at 370c. Hunyani closed with a higher offer at 8.5c after releasing full year 2011 financial results to October reporting an impressive growth in PAT to $1.086m from $0.111m. Parent group, TSL was bid and offer at 6c and 9c respectively after their October finals in which the group reported a 26% decline in operating profits weighed down by losses in Chemco. The mining index added a marginal +0.02% to 80.84pts after a solitary trade in Falgold which added 0.145 to 7.01c. There were no trades in other mining stocks.