Investment Dealing: An evolving market

Stock markets locally and internationally seem to be going through a buoyant phase. The local stock environment in particular is witnessing a broadened interest from a new breed of investors and is consolidating its presence as an important pillar of the economy.

On June 9, 2014, world stocks inched near an all-time high, with Wall Street’s Dow industrials and benchmark S&P 500 closing at all-time peaks; and Asian stocks touching their highest levels in nearly three years. The FTSE All-world index, which encompasses approximately 2,900 stocks of companies located in 47 countries, including both developed and emerging markets, inched up 0.2 % to 281.48 points; its all-time high.

In Mauritius, while the all-share index, the SEMDEX, lost 17 points to stand at 2,075 points at the end of the week compared to 2,092 at the beginning, it still showed an appreciation of 7.5 per cent over the corres-ponding period in 2013. Market attention was particularly directed towards the listing of Lottotech on June 11, and the stock ended the week as one of the most active ones with
Rs 48.3 million traded.

Neeraj Umanee, Manager, Anglo-Mauritius Stockbrokers, notes that the industry is gra-dually moving from a traditional equity business into a multi-class and currency market. The Stock Exchange of Mauritius (SEM), in partnership with the Central Depository and Settlement Co. Ltd. (CDS), has embarked over the years into a laudable campaign to anchor the SEM as an internationally recognised stock exchange by reviewing its operational, regulatory and structural frameworks...

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