Mauritius: SEMDEX closes on a high note for week ended 16 May 14
The total turnover amounted to Rs 244 million, geared largely towards the banking sector – the Mauritius Commercial Bank Group (MCBG) and the State Bank of Mauritius (SBM). (Image: PCS Group)
Mauritius saw its stock exchange on the upturn as companies declared their Mar 14 ending results, with the main index of the official market, the SEMDEX, rising 1.0% to reach 2,055.18 points for the week ended 16 May 14.
The total turnover amounted to Rs 244 million, geared largely towards the banking sector – the Mauritius Commercial Bank Group (MCBG) and the State Bank of Mauritius (SBM). Once again, foreign investors were net buyers to the tune of Rs 27.0 million.
MCBG witnessed an upward trend, reaching Rs 214.50 on Tuesday May 13, 2014 before dropping to Rs 214.00 on the following day and maintaining that price level over the next sessions.
On a week-on-week basis, the largest banking group, MCBG, gained 0.9% with foreign investors being net buyers to the tune of Rs 55 million.
SBM oscillated between Rs 1.02 and Rs 1.03 before finally concluding the week at Rs 1.05, which represented an increase of +2.9 % on a significant volume traded of 98 million shares.
For both banking groups, MCBG and SBM, results were dented by higher impairment charges, while SBM additionally announced an interim dividend of 1.30 cents.
Other banking groups such as Bramer Banking also grew, and that by 0.9% to Rs 6.96 on a volume transacted of 32,700 shares.
The insurance sector, in contrast, witnessed all companies finishing unchanged from their last weekly close on 09 May 14.
The only loser on the commerce counter was Innodis which gave up 0.4% to close at Rs 56.75 on 36,800 shares transacted.
On the other hand, Mauritius fisheries major IBL went up by 0.5% to close at Rs 106.50 on 11,600 shares traded, while Vivo Energy recouped from last week’s weaknesses.
Vivo Energy’s rebound followed the announcement of final dividend of Rs 2.80 for FY 2013 and a robust set of Q1 2014 results, closing higher at Rs131.50 (+5.4%) on 16,600 shares.
After last week’s rally, Moroil tumbled by 16.3%, making the stock the weakest performer for the week to close at Rs 27.40 on 18,300 shares.
On the other hand, construction companies Gamma Civic and UBP were on the upside gaining 0.7% and 1.9% respectively.
Noteworthy gainers were Rockcastle which went up by 6.9%, Rogers increased by 4.7%, CIEL Ltd grew by 3.6%, Alteo rose by 1.4%, POLICY by 1.2%, ENL Land (O) with 1.0% and Fincorp by 0.8%.
By contrast ASL shed 4.2% following lower profitability reported for quarter ended March 2014 while Terra dipped 1.9%.
On the hospitality front, New Mauritius Hotel (NMH) shares grew by 1.2%, Lux Island Resorts gained 4.0%, and finally, Sun Resorts fell by 0.8%.
Omnicane dropped by 1.8% as well as while property development companies Bluelife and Le Meritt were losers, plunging 5.2% and 6.8% respectively.
On the other hand, the DEMEX gained 0.3% to finish at 177.77 points. This index factors in small and mid-sized companies, those that are listed on the Development & Enterprise Market.
Its market turnover amounted to Rs 13.6 million, geared towards Ascencia Class A shares and CIEL Textile Ltd.
The former remained level at Rs 1,500 on a foreign purchase of 4,800 shares and the latter grew 1.9 % to Rs 30.00 on 100,900 shares traded.
The main gainer on the market was SODIA which climbed by 6.7 % followed by ENL Ltd (P) with +6.6%.
Other gainers were SIT Land Holding +3.4 %, EUDCOS +2.4%, LMLC (P) +1.5 %, CHS +1.5 % and ENL Investment +1.0 %.
The weakest performers were Compagnie Immobiliere with -8.0%, Constance La Gaiete at – 3.9%, and Medine Ltd (P) with -2.6%.