Tunisian stocks remain firm, rise seen sustained
TUNIS, (Reuters) - Tunisian shares ended moderately higher for the third successive session on Wednesday, May 9, and traders said the market's upward trend was expected to be sustained by strong demand for blue chips.
The benchmark Tunindex added 5.12 points, or 0.36 percent, to 1,412.72 points after rising 2.93 percent over the past two days.
Trading value was 3.06 million dinars compared with a relatively strong 3.98 million on Tuesday.
"The rally was still vivid and the upside will continue being supported by leading blue chip SFBT and Sotetel's recovery from their earlier sharp correction," a broker said.
Gainers outnumbered decliners 13 to seven with 13 unchanged.
Market heavyweight SFBT , a soft drinks manufacturer, led the day's trading after shares worth 633,629 dinars changed hands. It closed up 1.18 percent at 111.5 dinars.
Telecommunications engineering firm Sotetel rose 3.86 percent to 140 dinars after 3,870 shares changed hands.
Electrical components maker SIAME gained 4.25 percent to 45.10 dinars on turnover of 158,274 dinars.
Most banks, which account for half of the bourse's capitalization, ended unchanged or in negative territory, although in thin volumes in what traders said was the beginning of profit-taking following recent gains.
Societe Tunisienne de Banque fell 0.84 percent to 11.8 dinars after 53,859 dinars changed hands and Banque de l'Habitat inched down 0.58 percent to 10.32 dinars on volume of 11,752 shares.
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