Ethio Telecom Slumps as TELE Loses Ground Following Management’s 852 ETB Reporting Mark
Ethio Telecom S.C. (TELE) encountered a sharp downward correction, shedding roughly half of its market value after sliding from management’s previously reported benchmark of 852.00 ETB last month down to a closing price of 432.34 ETB, accompanied by a single-day loss of 6.17 percent.
Across the broader market landscape tracked by the Ethiopian Securities Exchange for the trading week ending August 28, 2026, overall equities faced mild downward pressure with an average market move of -1.40 percent across the six tracked stocks.
Total weekly market activity recorded 368 total trades encompassing 21,579 in volume traded, generating a total equity value of 24,166,260 ETB.
Individual stock performance for the week reflected a mixed sentiment divided between select upward momentum and broader decliners.
Awash Bank S.C. (AWAB) led the top gainers by climbing +1.40 percent to close at 2,434.27 ETB, alongside Wegagen Bank S.C. (WGBX) which posted a modest gain of +0.13 percent to finish at 1,251.67 ETB.
Conversely, the top decliners were heavily pressured by Ethio Telecom S.C. (TELE) dropping 6.17 percent to 432.34 ETB, Bank of Abyssinia S.C. (BOAX) sliding 2.64 percent to 1,657.68 ETB, and Abay Bank S.C. (ABAYB) pulling back 1.15 percent to 1,301.55 ETB.
Meanwhile, the interbank money market displayed robust activity over the same weekly period, recording 19.70 billion ETB in value traded across 12 total trades for overnight maturity at a weighted average interest rate of 14.57 percent, and 38.55 billion ETB across 37 total trades for 7-day maturity at a weighted average interest rate of 13.24 percent.
