Tunis Stock Exchange Sees Positive Week in Early December
The first week of December was positive for the Tunis Stock Exchange. The Tunindex rose by 0.76%, bringing its annual gains to 13.60%. It's now just 60 points shy of breaking the 10,000-point threshold.
Weekly trading volumes reached 24,522 MTND, with 7,311 MTND on Amen Bank, 3,180 MTND on OTH, and 2,419 MTND on BIAT. The top 5 most active values were dominated by four banks. The financial sector is driving the market in a year-end marked by uncertainty about its ability to deliver profits in line with earlier expectations.
Foreign investors were largely absent, with only 120 shares of Telnet Holding purchased and 500 shares of Sotuver sold.
The top performers were small-cap companies with governance issues: Sanimed (+20.78%), Sotemail (+18.18%), and UADH (+16.67%). Notably, these three companies saw no transactions throughout the week. In other words, demand far exceeded supply, raising questions about the true drivers of this dynamic. In reality, no significant news was released, except for the announcement that the Loukil family became the official distributor of Eicher trucks, which brought a glimmer of hope for UADH.
At the bottom of the table, AeTECH (-7.69%) suffered from disappointing activity indicators. We can conclude that the market is playing up good news about certain companies. Recent history has taught us that there are significant risks in following such an approach.
