ECONOMY

Algiers Stock Exchange: Share transactions rose by 63% in 2021

ALGIERS-The value of transactions on the equity compartment of the Algiers Stock Exchange rose by 63% in 2021, confirming the resumption of activity on the market, but remains below its level before the pandemic, according to the annual report of the Organization and Supervision of Stock Exchange Operations Committee (COSOB).

Trading on the equity compartment reached DZD127.907 million, against DZD78.458 million in 2019, far from the DZD248.990 million achieved in 2019 and DZD205.797 million in 2018.

This activity was particularly boosted by trading on Biopharm's securities which alone total 53% of transactions on the market and Alliance Insurance with 30% of trading on the market.

The number of shares traded on the market increased by +178% after a historic decline of -64.8% in 2020.

In 2021, 244,399 shares were traded, confirming the recovery of activity on the market, after 87,796 shares in 2020, 249,696 shares in 2019 and 225,405 in 2018.

However, "the resumption of activity in 2021 did not cover the losses recorded during the year 2020 due to the pandemic which divided the activity by 3 for the value of exchanges and by 2.84 for the volume of exchanges," explained COSOB.

Moreover, the number of exchange operations hit 219 transactions against 179 transactions in 2020, 434 in 2019, and 440 in 2018.

"The small number of transactions on the market reflects the weakness of the Algiers Stock Exchange and the lack of enthusiasm it generates among public and private operators," said the committee's report.