Mauritius: SEMDEX dipped by 0.3% for the week ended 24 October 14
On the official market, turnover amounted to Rs 212.6 million, mainly geared towards MCB Group, the largest banking stock. (Image: presalocala.com)
Mauritius saw its stock exchange on the downside with SEMDEX losing 0.3% to reach 2,126.99 points and SEM-10 losing 0.3% to reach 401.44 points for the week ended October 24, 2014, according to market highlights published by Anglo-Mauritius Stockbrokers.
Indices maintained a downward trend mainly on the back of the largest banking stock Mauritius Commercial Bank Group (MCBG), which saw some weakness, as well as ENL Land (O) and Terra.
Market activity started on the low side on Monday October 20, 2014 to pick up gradually, where significant exchanges were seen across MCBG, hence contributing to a total weekly turnover of Rs 212.6 million.
The report noted that foreign investors were net sellers of amount Rs 46.5 million.
In the banking sector, MCBG, which accounted for 38% of the week’s total market turnover,weakened during the week to conclude at Rs 209.00, representing a decline of 0.9% with a notable volume of 383,700 shares exchanged.
Foreign buyers amounted to Rs 30 million while foreign sellers accounted for Rs 76 million over the banking stock.
While Bramer Banking finished unchanged at Rs6.60 on 83,000 shares, State Bank of Mauritius Holdings Ltd (SBMH) traded mostly at Rs 1.04 during the week, with a total volume of 27,700,000 shares traded. Foreign investors were net buyers on the stock to the tune of Rs9.8 million.
In the insurance space, the trio insurance stocks namely SWAN, Mauritius Union Assurance and Mauritian Eagle Insurance ended the week unchanged.
On the other hand, financial company CFS declined by 0.5% to Rs8.60 with significant volume of 883,800shares exchanged overall.
On the commerce counter, Ireland Blyth Limited (IBL), which closed the week unchanged at Rs 115.25 witnessed notable volume of 64,800 shares traded while Innodis improved slightly by 0.4% to finish at Rs 59.50 with 76,300 shares exchanged.
Gamma Civic remained flat at Rs 48.00 on 55,000 shares. Mauritius Chemical & Fertilizer Industry (MCFI) went further up this week by 5.7% to Rs 28.00 with 101,100 shares traded.
Phoenix Beverages Limited (PBL) gained 0.9% to reach Rs 215.00 on thin volume of 3,900 shares and Moroil lost 1.8% to reach Rs 27.50.
Accounted for 17% of total market turnover, the investment counter saw exchanges across several stocks. Alteo saw notable volume of 184,000 shares mostly traded at Rs 35.00.
Terra and ENL Land (O) fell by 1.3% and 1.0% to finish at Rs 34.55 and Rs 50.00 respectively.
CIEL let off some steam and concluded at Rs 7.50, representing a decrease of 1.8%.
However, the stock saw a total volume of 1 million shares traded, mostly at Rs 7.60. Belle Mare Holding Limited shed off 1.7% to Rs 295.00 on 10,000 shares.
Rogers gave up 2.3% to reach Rs 254.00 with 25,400 shares traded as well as Fincorp went down by 0.2% to Rs 21.75, with 103,400 shares traded.
Concerning the hospitality sector, New Mauritius Hotel (NMH) concluded at Rs 88.00 with notable volume of 181,000 shares exchanged over the week.
LUX strengthened by 2.3% after the previous week’s slide to finish at Rs 56.75, with 134,900 shares exchanged.
In contrast, SUN fell by 1.0% to reach Rs 45.00 on 4,900 shares traded and ASL lost 3.1% to Rs 94.00.
Lottotech saw further weakness where it hit a low of Rs 11.30 but finished unchanged at Rs 11.35.
Property company Bluelife concluded at Rs 6.74 with 124,900 shares traded whereas Omnicane dropped further by 1.2% to Rs 85.00.
Rounding up the top five gainers were the MCFI with an increase of 5.7%; Lux Island Resorts (2.3%); SBM (1.3%); National Investment Trust Ltd (1.3%); and PBL (0.9%).
However, the Demex gave up 0.1% to 203.01 points. The Dem counter saw the introduction of a new entity, Novus Properties Ltd on October 20, 2014 whereby 420,800 shares were exchanged over the stock at Rs8.76 on the same day.
Exchanges over Southern Cross occupied 38% of total market turnover where the stock saw a cross of 1,700,000 shares traded at Rs 6.94, representing a decline of 4.9% week-on-week.
According to the report, the most notable movers were: Quality Beverages Limited with a decline of 11.2%, Medical & Surgical (+8.6%), Societe De Developpement Industriel & Agricole Ltee (+10.0%), ENL(P) (-4.3%), and Medine (P) (-3.4%).