The stock market ended the week on a gloomy note, weighed down by the poor performance of its heavyweights (-0.7% for the banking sector and -2.3% for the agri-food sector). According to Tunisie valeurs' weekly analysis for the week from August 21 to 25, the benchmark index fell by 0.4% to 8849.4 points, bringing its annual performance to +9.1%.
In the absence of block trades, trading was thin during the week. A total of TND 16.5 million was traded on the market, an average daily flow of TND 3.3 million.
Stock analysis
STIP was the session's top performer. The shares of Tunisia's only tyre manufacturer rose by 15% to TND 4.600. The stock traded on a very limited volume of TND 17,000 dinars. The group, which recently published its consolidated financial statements for the 2022 financial year, posted a 24.1% increase in sales last year to TND 151.5 million.
On the other hand, STIP's net profitability deteriorated from TND 24.2 million in 2021 to TND 11.9 million in 2022. Finally, it should be noted that the company will hold its Annual General Meeting on August 30 at 11.00 a.m. at the Msaken plant.
Carthage Cement shares also performed well during the week. The state-owned cement company's share price rose by 4.7% to TND 2.210, generating capital of TND 1.4 million. Since the beginning of 2023, CC has posted a commendable performance of +16.3%.
Contrary to STIP, SOMOCER was the most neglected stock in the industrials sector during the week. The share price of the ceramic tile specialist suffered a correction of -6.7% to TND 0.700. Only TND 108,000 were traded.
Also on the downside, BIAT shares fell 4.4% to TND 90,000. During the week, the share of Tunisia's number one bank provided the market with TND 4 million of capital, the highest volume on the stock market.
Source: Agence Tunis Afrique Presse