Local market maintains its upward momentum
Share
The local stock market maintained its growth momentum during the week under review (11-18 March 2013). The All-share index, SEMDEX, closed the session of Monday 18 March 2013 at a 16-month high of 1,916.53 points.
Since the start of 2013, the SEMDEX has grown by 184.47 points. The total return index, SEMTRI, closed at 5,947.14 points, gaining 68.48 points in one week and 10.87% on a year-to-date basis. The SEM-7 index, which comprises the seven largest and most liquid stocks, closed at 383.15 points on Monday. The SEM-7 has recorded a growth of 13.60% on a year-to-date basis. At market close on Monday, market capitalisation reached Rs 194.73 billion. Foreign investors’ exposure to the local market in terms of net investment (purchases-sales) since the beginning of 2013 amounted to Rs 367.24 million.
Total transactions amounted to Rs 168.9 million during the week. The top five traded securities for the week were: Mauritius Commercial Bank Ltd (MCB), Terra Mauricia Ltd (TERA), State Bank of Mauritius Ltd (SBM), Bramer Banking Corporation Ltd (BBCL) and New Mauritius Hotels Ltd (NMHL). They were exchanged for a total value of Rs 61.1 million, Rs 35.7 million, Rs 28.3 million, Rs 7.7 million and Rs 7.2 million, respectively, during this time frame. The shares of MCB, TERA, SBM, BBCL and NMHL closed at Rs 195.50, Rs 39.50, Rs 1.03, Rs 8.54 and Rs 72, respectively, on Monday 18 March 2013.
An analysis of the evolution of the prices of listed stocks indicates that out of the 43 stocks figuring on the Official List, 16 moved up during the week, 14 remained stable and 13 went down. The best performing stocks for the week were: Rockcastle Global Real Estate Co. Ltd (+9.52%), Bramer Banking Corporation Ltd (+6.75%), Promotion and Development Ltd (+6.06%), POLICY Ltd (+5.97%) and ENL Land Ltd (+5.62%). The worst performers were: Go Life International PCC (-20%), Air Mauritius Ltd (-6.67%), Dale Capital Group Ltd (-6.45%), CIM Financial Services Ltd (-5%) and Rogers & Co Ltd (-3.23%).
The following data highlights the ten best performing stocks in terms of total return since the beginning of 2013.
Companies | Total Return since beginning of 2013 |
Air Mauritius Ltd | 38.61% |
New Mauritius Hotels Ltd | 27.41% |
Rogers & Co. Ltd | 20.81% |
P. O. L. I. C. Y Ltd | 18.33% |
Mauritian Eagle Insurance Co. Ltd | 16.46% |
ENL Land Ltd | 15.94% |
State Bank of Mauritius Ltd | 14.44% |
The Mauritius Commercial Bank Ltd | 14.33% |
Promotion and Development Ltd | 12.01% |
National Investment Trust Ltd | 10.95% |
On the Development & Enterprise Market (DEM), at market close on Monday, the two indices, the DEMEX and the DEMTRI, closed at 148.66 points and 175.41 points, respectively. Market capitalization stood at Rs 44.35 billion. A total volume of 3.05 million shares for a total value of Rs 39.53 million has been traded during the week. The ten best performing stocks in terms of total returns since the beginning of 2013 are: RHT Holding Ltd, Les Moulins de la Concorde Ltée (O), Tropical Paradise Ltd, Union Flacq Ltd, ENL Investment Ltd, COVIFRA Ltée, Les Gaz Industriels Ltd, Livestock Feed Ltd (O), The Union Sugar Estates Ltd Co Ltd and United Bus Service Ltd. The total return varies from 8.48% to 28.60%.
On the international front, financial markets ended the week on a positive note. For the week, the Dow Jones Industrial Average and the NASDAQ Composite index went up 0.81 per cent and 0.14 per cent, respectively. In Europe, Germany’s DAX, France CAC 40 and Britain’s FTSE gained 0.71 cent, 0.10 per cent and 0.09 per cent, respectively.
