Market consolidates during the week
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The local stock market was marked by a consolidation phase during the week under review. The SEMTRI closed these days with a marginal increase of 0.09% whereas the SEMDEX remained almost the same.
The All-share index, SEMDEX, ended the session of Monday 14th October 2013 at 1,965.37 points against 1,965.39 points last Monday. The total return index, SEMTRI, finished the same session at 6,207.01 points (6,201.44 points a week earlier). Since the start of 2013, the SEMTRI and the SEMDEX have grown by 15.71% and 13.47% respectively. The SEM-7 index, which comprises the seven largest and most liquid stocks, closed at 383.89 points. At market close on Monday, market capitalisation reached Rs 199.69 billion. Foreign investors’ exposure to the local market in terms of net investment (purchases-sales) since the beginning of 2013 amounted to Rs 498.73 million.
Total transactions for the week under review amounted to Rs 178 million and the top five traded securities for the week were: Phoenix Beverages Ltd (PBL), The Mauritius Commercial Bank Ltd (MCB), CIM Financial Services Ltd (CIM), Rogers and State Bank of Mauritius Ltd (SBM). They were exchanged for a total value of Rs 87.5 million, Rs 17.1 million, Rs 14.7 million, Rs 9.7 million and Rs 9.5 million respectively during this time frame. The shares of PBL, MCB, CIM, Rogers and SBM closed at Rs 190.00, Rs 195.50, Rs 8.00, Rs 192.00 and Re 1.00 respectively on Monday 14 October 2013.
An analysis of the evolution of the prices of listed stocks indicates that out of the 45 stocks figuring on the Official List, 11 moved up during the week, 26 remained stable and 8 went down. The best performing stocks for the week were: NewGold Issuer Limited (+2.49%), Mauritius Stationery Manufacturers Ltd (+2.47%), Alteo Ltd (+1.54%), Ireland Blyth Ltd (+1.29%) and Rogers & Co. Ltd (+1.19%). The worst performers were: MCFI (-6.12%), Promotion and Development Ltd (-2.47%), ENL Commercial Ltd (-1.41%), Omnicane Ltd (-1.15%) and Fincorp Investment Ltd (-1.11%).
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 | 79.01% |
CIM Financial Services Ltd | 57.32% |
Automatic Systems Ltd | 53.12% |
P. O. L. I. C. Y Ltd | 48.54% |
New Mauritius Hotels Ltd | 46.90% |
Rogers & Co. Ltd | 33.12% |
The Mauritius Development Investment Trust Co. Ltd | 28.79% |
Promotion and Development Ltd | 27.99% |
National Investment Trust Ltd | 27.47% |
Air Mauritius Ltd | 26.73% |
On the Development & Enterprise Market (DEM), at market close on Monday, the DEMTRI closed at its all-time high of 189.77 points, registering a growth of 9.49% since the start of 2013. The DEMEX closed the session of Monday at 158.47 points, its highest level of 2013. Market capitalization stood at Rs 49.36 billion. A total volume of 373,044 shares for a total value of Rs 10.57 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, Constance La Gaieté Company Ltd, Deep River Investment Ltd (O), ENL Investment Ltd, Tropical Paradise Ltd (O), The United Bus Service Ltd, Ciel Investment Ltd, Mauritius Secondary Industries Ltd and Union Sugar Estates Co Ltd. The total return varies from 20.37% to 41.20%.
On the international front, financial markets ended the week on a mixed note. For the week, the Dow Jones Industrial Average went up 1.09% whilst the NASDAQ Composite index lost 0.42% during the week. In Europe, Germany DAX, Britain’s FTSE and France CAC-40 gained 1.18%, 0.52% and 1.34% respectively during the same time frame.
