Tunisia: They are lining their pockets, on the sly!

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Despite the economic and financial conditions that hit the country hard, the Tunis Stock Exchange continues to make good figures drawn by banks and financial institutions that account for 52% of the market capitalization.

According to the latest indicators of the Tunis Stock Exchange, as of July 31, 2018, the volume of trading on the stock exchange has reached about 1,067 million dinars against 794 million dinars for the same period 2017, i.e. a sharp increase of 34.4%.

The financial sector representing 52% of market capitalization, accounted for the largest share of the market, with 40.6% of the total volume, up 78% over the same period in 2017.

It should be noted that this performance is mainly attributable to the banking sector, which has increased trade volume by 73%.

In second place is the consumer goods sector, accounting for 31% of market capitalization, with a 35.4% share of the overall market volume and a 39.3% increase in trade volume compared to the same period in 2017.

For the other sectors, representing 17% of the market capitalization, four sectors posted an increase in their trading volumes: they are the telecommunications (+ 251.8%) and oil and gas (+ 75.1%) sectors), consumer services (+ 9.5%) and basic materials (+ 1.1%); against three declining sectors, namely health (-32.9%), industries (-29.4%), technology (-4.3%).

Tunisian investors represent the main players in the market with a share that hovers around 70%, followed by foreign investors and UCITS.

Indeed, over the period January-July 2018, the share of Tunisian investors in purchases reached 72.7% against 75.6% for the same period 2017, while on the sales side their share was down from 66% to 62.1%. The share of foreign investors in purchases increased from 9.1% to 12.7%.

By moving in the same direction, the share of foreigners in sales has reached about 25% in 2018 against 18.5% in 2017.

The share of UCITS grew slightly during both periods. In fact, their shares in purchases and sales went from 12.9% to 12.1% and from 13.3% to 11.6% respectively.

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