finance & economy

Tunindex posts 2.34% rise at close of year

January 3, 2022

(TAP) - Stock exchange activity closed the year on a positive note. Tunindex, the benchmark index of the Tunis Stock Exchange, posted a 2.34% rise after two consecutive drops (-2.06% in 2019 and -3.33% in 2020), closing at 7,046,01 points.

There were hopes of economic recovery at the beginning of 2021 after a very difficult year. This allowed Tunindex to reach its record high in the first five months (+8.05% by May 28), according to a balance sheet published by the stock exchange market.

However, the country's macroeconomic framework and the deterioration of the sovereign rating had a negative impact on Tunindex. The index shed most of its gains in H2 of 2021 (- 5.29% drop), closing the year with a 2.34% rise.

In foreign currency, Tunindex dropped 4.75% in US dollar and 3.80% in euro.

Tunindex20 index ends year with a 2.24% gain

Tunindex20, made up of the market's 20 biggest and most liquid stocks, followed suit, ending the year at 3,041,99 points (+2.24%).

This is due to an increase in stock prices for Euro-Cycles companies (32.64%), BIAT (+30.64%), One Tech holding (+12.42%) and Poulina Group Holding (+12.22%) and maintaining prices for remaining stocks.

Positive balance sheet for sectoral indices

The annual balance sheet of sectoral indices, published tby the stock exchange market, is rather positive as 9 indices out of 12 (sectors and sub-sectors) showed a positive performances in 2021, while 3 underperformed.

The Basic Materials index posted the highest rise among supersectors with a 20.18% gain, followed by the Financial Companies index (+4.29%). The Industries index underperformed (-10.70%).

As for sub-sectors, the Financial Services index posted the best performance with a 10.95% rise, followed by the Banks index (+4.15%).

Overall income up 13% compared to 2020

The very difficult economic, social and political situation affected stock market indices in 2021 at varying degrees, especially in realtion to the volume of transactions and new listings.

However, there were signs of hope in the recovery of the activity of listed companies.

Activity indicators of listed companies reported a 13% rise in the overall income during the first 9 months of 2021, reaching 14.4 billion dinars against 12.9 billion dinars in 2020.

The aggregate amount by by companies listed on and approved by the Financial Market Council (late November 2020) reached 508 million dinars (MD) for 14 operations. This includes 8 bond issues worth 447 MD, a bond issue based on the principles of Islamic Finance worth 10 MD and 5 capital increases worth 51 MD.

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