Market’s slide continues
Share
The local stock market maintained its downward trend during the week under review (1-8 July 2013). The SEMDEX and the SEMTRI dropped 1.68% and 1.24%, respectively, at the end of these days.
The total return index SEMTRI shed 73.36 points during the week and closed the session of Monday 8th July 2013 at 5,866.41 points. The All-share index SEMDEX ended last Monday’s session at 1,877.08 points. The SEMTRI and SEMDEX maintained however a growth of 9.36% and 8.37% on a year-to-date basis. The SEM-7 index, which comprises the seven largest and most liquid stocks, closed at 365.02 points. At market close on Monday, market capitalisation reached Rs 190.72 billion. Foreign investors’ exposure to the local marketin terms of net investment (purchases-sales) since the beginning of 2013 totalled Rs 773.23 million.
Total turnover for the week amounted to Rs 88.3 million. The top five traded securities for the week were: The Mauritius Commercial Bank Ltd (MCB), New Mauritius Hotels Ltd (NMHL), Lux Island Resorts Ltd, Mauritius Development Investment Trust Ltd (MDIT) and Alteo Ltd. They were exchanged for a total value of Rs 25.4 million, Rs 9.5 million, Rs 9.3 million, Rs 4.9 million and Rs 4.4 million, respectively, during this time frame. The shares of MCB, NMHL, Lux, MDIT and Alteo closed at Rs 179.50, Rs 69, Rs 22, Rs 5.60 and Rs 34.50, respectively, on 8 July 2013.
An analysis of the evolution of the prices of listed stocks indicates that out of the 44 stocks figuring on the Official List, 3 moved up during the week, 22 remained stable and 19 went down. The best performing stocks for the week were: Automatic Systems Ltd (+6.25%), Mauritius Development Investment Trust Ltd (+3.70%) and CIM Financial Services Ltd (+0.63%) The worst performers were: Le Meritt Holdings Ltd (-8%), Mauritius Stationery Manufacturers Ltd (-3.85%), Omnicane Limited (-3.41%), The Mauritius Commercial Bank Ltd (-3.36%) and Alteo Ltd (-2.82%).
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 |
Automatic Systems Ltd | 41.67% |
Air Mauritius Ltd | 36.63% |
P. O. L. I. C. Y Ltd | 36.59% |
Lux Island Resorts Ltd | 35.80% |
Promotion and Development Ltd | 32.81% |
Mauritian Eagle Insurance Co. Ltd | 28.10% |
The Mauritius Development Investment Trust Co. Ltd | 22.55% |
New Mauritius Hotels Ltd | 22.11% |
Rogers & Co. Ltd | 21.81% |
CIM Financial Services Ltd | 18.38% |
On the Development & Enterprise Market (DEM), at market close on Monday, the two indices, the DEMEX and the DEMTRI, closed at 153.30 points and 181.82 points, respectively. Market capitalization stood at Rs 47.75 billion. A total volume of 4.6 million of shares for a total value of Rs 32.5 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, Tropical Paradise Ltd (O), Deep River Investment Ltd (O), Les Moulins de la Concorde Ltée (O), RHT Holding Ltd, The Union Sugar Estates Ltd Co Ltd, United Bus Service Ltd, Constance La Gaiété Company Ltd, ENL Investment Ltd and Les Gaz Industriels Ltd. The total return varies from 13.82% to 44.83%.
On the international front, financial markets ended the week on a mixed note. For the week, the Dow Jones Industrial Average and the NASDAQ Composite index went up 1.52% and 2.24%, respectively. In Europe, France CAC 40 and Britain’s FTSE gained 0.40% and 2.57%, respectively, whilst Germany DAX lost 1.93% during the week.
