Local market witnesses heavy trading during the week
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The local stock market was characterized by heavy trading during the week under review (26 August-2 September 2013). The SEMTRI and the SEMDEX progressed by 0.11% during this time frame.
Shares worth Rs 249.8 million were exchanged in a market environment that saw the indices close the week on a positive note. The total return index, SEMTRI, finished the session of Monday 2 September 2013 at 6,052.30 points, gaining 6.69 points in one week. The All-share index, SEMDEX, closed the same session at 1,929.79 points.
Since the start of 2013, the SEMTRI and the SEMDEX have registered double digit gains of 12.83% and 11.42%, respectively. The SEM-7 index, which comprises the seven largest and most liquid stocks, ended at 376.56 points. At market close on Monday, market capitalisation reached Rs 196.07 billion. Foreign investors’ exposure to the local market in terms of net investment (purchases-sales) since the beginning of 2013 amounted to Rs 877.79 million.
The top five traded securities for the week were: State Bank of Mauritius Ltd (SBM), The Mauritius Commercial Bank Ltd (MCB), Phoenix Beverages Ltd (PBL), Mauritius Commercial Bank Ltd – Notes and Lux Island Resorts Ltd. They were exchanged for a total value of Rs 59.6 million, Rs 49.7 million, Rs 34.4 million, Rs 21.6 million and Rs 16.3 million, respectively, during this time frame. The shares of SBM, MCB, PBL, MCB Notes and Lux closed at Rs 1.05, Rs 193.50, Rs 202.50, Rs 1,050.27 and Rs 26.80 on 2nd September 2013.
An analysis of the evolution of the prices of listed stocks indicates that out of the 45 stocks figuring on the Official List, 14 moved up during the week, 22 remained stable and 9 went down. The best performing stocks for the week were: Le Meritt Holdings Ltd (+12.53%), MDIT Ltd (+5.78%), Mauritius Stationery Manufacturers Ltd (+4.65%), Innodis Ltd (+3.57%) and ENL Land Ltd (+3.41%). The worst performers were: Air Mauritius Ltd (-3.38%), CIM Financial Services Ltd (-2.35%), State Bank of Mauritius Ltd (-1.87%), National Investment Trust Ltd (-1.43%) and Alteo Ltd (-1.28%).
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 |
Lux Island Resorts Ltd | 65.43% |
CIM Financial Services Ltd | 59.67% |
P. O. L. I. C. Y Ltd | 46.83% |
Automatic Systems Ltd | 45.83% |
National Investment Trust Ltd | 33.33% |
Promotion and Development Ltd | 29.61% |
The Mauritius Development Investment Trust Co. Ltd | 28.24% |
Air Mauritius Ltd | 27.23% |
Mauritian Eagle Insurance Co. Ltd | 25.53% |
ENL Land Ltd | 22.75% |
On the Development & Enterprise Market (DEM), at market close on Monday, the two indices, the DEMEX and the DEMTRI, closed at 155.03 points and 185.66 points, respectively. Market capitalization stood at Rs 48.29 billion. A total volume of 5.36 million of shares for a total value of Rs 25.49 million has been traded during the week. The ten best performing stocks in terms of total returns since the beginning of 2013 are: Union Flacq Ltd, RHT Holding Ltd, Deep River Investment Ltd (O), Constance La Gaieté Company Ltd, ENL Investment Trust Ltd, Ciel Investment Ltd, Union Sugar Estates Ltd Co Ltd, The United Bus Service Ltd, Tropical Paradise Ltd and Compagnie Immobilière Limitée. The total return varies from 14.58% to 35.15%.
On the international front, financial markets ended the week on a negative note. For the week, the Dow Jones Industrial Average and the NASDAQ Composite index lost 1.33% and 1.86%, respectively. In Europe, Germany DAX, Britain’s FTSE and France CAC-40 lost 3.73%, 1.22% and 3.33%, respectively, during the same time frame.
