MCB pulls up Stock Exchange of Mauritius as share value rises to 2015 high of Rs 225
The Stock Exchange of Mauritius ended the week on a positive note with the Semdex and the Sem-10 index gaining 1.1% and 1.4% to hit 1974.50 points and 378.53 points respectively for the trading week ended July 31, 2015, upon positive performance by banking major MCBG which hit an annual record high of Rs 225, as well as a 1.1% rise in the stock value of the island’s second largest financial services provider, SBMH.
The Stock Exchange of Mauritius closed the trading week of July 31, 2015 in positive territory, with the Semdex and the SEM-10 indices gaining 1.1% and 1.4% to reach 1974.50 points and 378.53 points respectively.
It may also be noted that the overall turnover of the Official Market amounted to Rs 59.2 million and was mainly geared towards MCBG which accounted for 83.8% ofTotal Market Turnover (TMT).
The upward trend in the market reflected gains by banking major MCB Group Ltd, whose stock went up by 3.2% to close at Rs 225.00, representing its highest value yet in 2015.
In the banking cluster, the performance of SBM Holdings Ltd also contributed positively to the upward trend of the stock market with a 1.1% gain to close at Rs 0.89.
The positive performance of the SEM-10 can be attributed to the increase in the value of banking sector stocks even as other stocks pulled in negative performances.
In the investment cluster, Rogers & Co. Ltd and ENL Land Ltd reported an increase of 1.0% and 2.2% respectively in the value of their shares.
Other investment stocks, namely Terra Mauricia Ltd and Alteo Ltd, reported losses of 2.4% and 3.1% respectively, while CIEL Limited remained flat.
On the hospitality front, bluechip stock Lux Island Resorts Ltd remained constant at Rs 61.50 while New Mauritius Hotels reported positively with a gain of 2.7% to close at Rs 19.00.
The top three performers of the week were Swan Insurance Co. Ltd, which appreciated by 11.1% to close at Rs 400.00, followed by increase in Phoenix Beverages Ltd by 3.9% and finally a rise of 6.1% in the share value of USD quoted security DELTA International.
The main market losers were Dale Capital Group Ltd, which dipped by 12.1%, followed by Alteo Ltd whose share price depreciated by 3.1%, while Gamma Civic Ltd reported a loss of 3.0% in share value.
Following the official market of the SEM, the Development and Enterprise Market pursued a negative performance with a decline of 1.2% in the DEMEX to close at 205.33 points.
Major market news during the week pertained to NMH’s rights issue of 161,423,536 Redeemable Convertible Non-Voting Preference Shares which has now been successfully completed. It is also to be noted that the company has successfully issued, on 15 July 2015, Corporate Bonds totalling Rs 812 million through private placement which has been oversubscribed by Rs 62 million.