Local market witnesses heavy trading during the week

The local stock market was characterized by heavy trading during the week. A total of 31.5 million shares were exchanged for a total value of Rs 404.4 million, which saw the indices lose ground during the week.

The SEMDEX and the SEMTRI dropped -0.7% and 0.66% respectively at the end of the days under review (11-18 April 2016). The All-share index, SEMDEX, closed the session of Monday 18 April 2016 at 1,778.05 points against 1,790.54 points a week earlier. The Total Return Index, SEMTRI, closed the same session at 6,029.98 points. The SEM-10 index, which comprises the ten largest and most liquid stocks, closed at 340.99 points. The market capitalisation stood Rs 201.11 billion at market close on Monday.

The top five traded securities were: Bayport Management Ltd (BML), Promotion and Development Ltd (PAD), MCB Group Limited (MCBG), Lux Island Resorts Ltd (LUX) and SBM Holdings Ltd (SBMH). They were exchanged for a total value of Rs 235.4 million, Rs 32.4 million, Rs 30.6 million, Rs 19.6 million and Rs 16.7 million respectively. The shares of BML, PAD, MCBG, LUX and SBMH closed at USD 4.40, Rs 89.50, Rs 207.75, Rs 58.50 and Re 0.65.

An analysis of the evolution of the prices of listed stocks indicates that out of the 59 stocks figuring on the Official List, 10 moved up during the week, 30 remained stable and 19 went down. The best performing stocks for the week were: Atlantic Leaf Properties Limited (+3.57%), National Investment Trust Ltd (+2.24%), Alteo Ltd (+1.85%), Omnicane Ltd (+1.52%) and United Basalt Products Ltd (+1.27%). The worst performers were: Automatic Systems Ltd (-24.48%), Air Mauritius Ltd (-7.80%), BlueLife Limited (-6.25%), Rogers & Co. Ltd (-3.60%) and Fincorp Investment Ltd (-2.38%).

The following data highlights the ten best performing stocks in terms of annualised total returns since their listing on the stock exchange.

On the Development & Enterprise Market (DEM), at market close on Monday, the two indices, the DEMEX and the DEMTRI, closed at 198.25 points and 252.75 points respectively. Market capitalisation stood at Rs 45.17 billion. A total volume of 3.3 million shares for a total value of Rs 61.5 million has been traded during the week. The ten best performers in terms of annualised total return since listing are: Margarine Industries Ltd, United Bus Service Ltd, Associated Commercial Ltd, ABC Motors Company Ltd, Swan Life Ltd, Phoenix Investment Company Ltd, Livestock Feed Ltd (O), Morning Light Ltd, The Bee Equity Partners Ltd and Les Moulins de La Concorde Ltée (Ordinary). The total return varies from 20.48% to 36.10%.

On the international front, the financial markets finished the week up. The Dow Jones Industrial Average and the NASDAQ went up 1.94% and 2.17% respectively in one week. In Europe, Germany DAX, France CAC-40 and London FTSE-100 registered a gain of 3.81%, 4.23% and 2.32% respectively during the same time frame.