Market consolidates during the week

The local stock market was marked by a consolidation phase during the week (22-29 August 2016). The SEMDEX closed these daysunder reviewwith a marginal decline of 0.02% whereas the SEMTRI gained 0.11%.

The All-share index, SEMDEX, closed the session of Monday 29^th August 2016 at 1,814.24 points against 1,814.60 points a week earlier. The Total Return Index, SEMTRI, closed the same session at 6,246.21 points. The SEM-10 Index, which comprises the ten largest and most liquid stocks, closed at 346.56 points. The SEM sustainability index, SEMSI, ended the same day at 99.05 points. The market capitalisation stood at Rs 216.73 billion at market close on Monday.

Total transactions during the week amounted to Rs 233.6 million. The top five traded securities were: MCB Group Ltd (MCBG), Greenbay Properties Ltd, Mainland Real Estate Ltd (MAIN), LUX* Island Resorts Ltd (Lux) and SBM Holdings Ltd (SBMH). They were exchanged for a total value of Rs 106 million, Rs 40 million, Rs 31.2 million, Rs 17.6 million and Rs 9.5 million respectively. The shares of MCBG, Greenbay, MAIN, LUX and SBMH closed at Rs 207.75, GBP 0.08, GBP 2, Rs 58.25 and Rs 0.69 on Monday 29^th August 2016.

An analysis of the evolution of the prices of listed stocks indicates that out of the 64 stocks figuring on the Official List, 15 moved up during the week, 39 remained stable and 10 went down. The best performing stocks for the week were: Greenbay Properties Ltd (+14.29%), ENL Land Ltd (P) (+7.25%), Vivo Energy Mauritius Ltd (+4.76%), Phoenix Beverages Ltd (+3.77%) and New Mauritius Hotels Ltd (P) (+3.46%). The worst performers were: Caudan Development Ltd (-12.61%), SBM Holdings Ltd (-2.82%), New Mauritius Hotels Ltd (-2.38%), Omnicane Ltd (-2.33%) and BlueLife Ltd (-1.74%).

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 196.25 points and 253.64 points respectively. Market capitalisation stood at Rs 45.21 billion. A total volume of 285,203 shares for a total value of Rs 9.7 million has been traded during the week. The ten best performers in terms of annualised return since listing are: Margarine Industries Ltd, United Bus Service Ltd, Associated Commercial Ltd, Phoenix Investment Company Ltd, ABC Motors Ltd, Swan Life Ltd, Livestock Feed Ltd (O), Les Moulins de la Concorde Ltd, Morning Light Ltd and The Bee Equity Partners Ltd. The total return varies from 20.15% to 34.59%.

On the international front, the financial markets ended the week on a mixed note. The Dow Jones Industrial Average and the NASDAQ registered a loss of 0.85% and 0.37% respectively during the week. In Europe, France CAC-40 and Germany DAX went up 0.94% and 0.41% respectively whilst London FTSE-100 lost 0.30% during the same time frame.