Market pursues growth momentum amid heavy trading
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The local stock market pursued its growth momentum during the week under review (2-9 September 2013). The SEMTRI and the SEMDEX went up by 0.41% and 0.45% respectively during this time frame.
The total return index, SEMTRI, closed the session of Monday 9 September 2013 at 6,079.50 points, gaining 27.20 points in one week. The All-share index, SEMDEX, ended the same session at 1,937.75 points. Since the start of 2013, the SEMTRI and the SEMDEX have grown by 13.33% and 11.88% respectively. The SEM-7 index, which comprises the seven largest and most liquid stocks, closed at 377.28 points. At market close on Monday, market capitalisation reached Rs 196.88 billion. Foreign investors’ exposure to the local market in terms of net investment (purchases-sales) since the beginning of 2013 amounted to Rs 717.53 million.
The market was also marked by heavy trading and the top five traded securities for the week were: State Bank of Mauritius Ltd (SBM), The Mauritius Commercial Bank Ltd (MCB), The Mauritius Commercial Bank Ltd- Notes, New Mauritius Hotels Ltd (NMHL) and Rockcastle Global Real Estate Co. Ltd (ROCK). They were exchanged for a total value of Rs 187.1 million, Rs 40.9 million, Rs 17.2 million, Rs 14.5 million and Rs 10.4 million, respectively, during this time frame. The shares of SBM, MCB, MCB Notes, NMHL and ROCK closed at Rs 1.04, Rs 192, Rs 1030.72, Rs 68.50 and USD 1.35, respectively, on 9 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, 17 moved up during the week, 16 remained stable and 12 went down. The best performing stocks for the week were: Compagnie des Magasins Populaires Ltée (+9.57%), Rogers & Co. Ltd (+5.08%), CIM Financial Services Ltd (+5.06%), ENL Land Ltd (+4.14%) and New Mauritius Hotels Ltd (+3.01%). The worst performers were: Le Meritt Holdings Ltd (-11.13%), MDIT Ltd (-4.44%), Lux Island Resorts Ltd (-1.49%), Mauritian Eagle Insurance Co. Ltd (-1.02%) and State Bank of Mauritius Ltd (-0.95%).
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 |
CIM Financial Services Ltd | 68.97% |
Lux Island Resorts Ltd | 62.96% |
P. O. L. I. C. Y Ltd | 46.41% |
Automatic Systems Ltd | 45.83% |
National Investment Trust Ltd | 33.33% |
The Mauritius Development Investment Trust Co. Ltd | 31.31% |
Promotion and Development Ltd | 29.61% |
Rogers & Co. Ltd | 28.96% |
ENL Land Ltd | 27.84% |
Air Mauritius Ltd | 27.72% |
On the Development & Enterprise Market (DEM), at market close on Monday, the two indices, the DEMEX and the DEMTRI, closed at 156.88 points and 187.87 points respectively. Market capitalization stood at Rs 48.86 billion. A total volume of 5.36 million of shares for a total value of Rs 19.46 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, Union Flacq Ltd, Deep River Investment Ltd (O), Ciel Investment Ltd, Constance La Gaieté Company Ltd, Tropical Paradise Ltd (O), ENL Investment Ltd, The Union Sugar Estates Co Ltd, United Bus Service Ltd and Livestock Feed Ltd (O). The total return varies from 17.54% to 38%.
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 0.76% and 1.95% respectively during the week. In Europe, Germany DAX, Britain’s FTSE and France CAC-40 gained 2.13%, 2.10% and 2.93% respectively during the same time frame.
