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AfricaMoney | June 26, 2017

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SBM shares hit 2015-low at Rs 0.87 prompting Mauritian bourse to close lower

SBM shares hit 2015-low at Rs 0.87 prompting Mauritian bourse to close lower

The Stock Exchange of Mauritius closed the week ending 10th July on a slightly lower note, with the broader Semdex dipping 0.2% to hit 1960.3 points and the SEM-10 down by 0.4% to 372.4 points, as dominant market players, financial services major SBMH and hospitality major NMH, reported a decline of 2.3% and 5.3% respectively.(Image:gulfbusiness.com)

The Stock Exchange of Mauritius saw its indices end last week on a negative note with the broad equity index, the Semdex, decreasing by 0.2% to hit 1960.3 points, while the blue chip index, the SEM-10 index, also declined by 0.4% to close at 372.4 points.

Overall, the SEM recorded a total turnover of Rs 70.5 million for the week ended Friday 10th July 2015.

Dominant market player MCB Group Ltd inched up by 0.2% to reach Rs 213.00 on 10 July 2015, while the drop in SBM Holdings Ltd by 2.3% to close at Rs 0.87 represented its lowest value for the year, also prompting the market to end the week at lower levels. It may be noted that the shares of the financial services major have declined in value by 14.7% since the beginning of the year.

Other components of the SEM-10 depicted that the hospitality cluster’s performance was negative during the week, with New Mauritius Hotels Ltd and Lux Island Resorts Ltd declining 5.3% and 1.6% respectively to close at Rs 18.75 and Rs 61.75 each.

Moreover, the investment cluster amid SEM-10 components reported a mixed performance with Alteo Ltd, CIEL Ltd, and ENL Land Ltd recording positive gains of 1.6%, 1.4% and 2.8% each while Rogers and Co. Ltd declined in value by 0.8%, and, finally, Terra Mauricia Ltd remained flat at Rs 31.60.

Besides, Ireland Blyth Ltd in the commerce cluster posted a flat performance to close the week at Rs 115.00.

Coming to the top three performers of the week, Phoenix Beverages Ltd gained 11.1%, spurred by the ‘Share a Coke’ campaign which was launched in Mauritius recently, following outstanding success in other countries, causing investors to expect a boost in sales levels of the popular beverage in the island economy.

The other two major gainers for the week were Gamma Civic Ltd, which edged higher by 3.7%, and Air Mauritius Ltd, which inched up 3.0%. It may be noted that Air Mauritius Ltd recently launched during its first flight to Chengdu, reinforcing Mauritius’ air connectivity with China.

On the downside, the weakest performances on the bourse were logged by CIM Financial Ltd, Mauritius Union Assurance Co. Ltd and New Mauritius Ltd which recorded decreases of 7.4%, 5.3% and 5.1% respectively.

On the Development and Enterprise Market (DEM), the Demex posted a negative performance as well to end the week at 207.19 points with a 0.3% drop  over last week, mainly attributed to the fall in value of Ascencia Class A shares.

 -By Wazna Gunga

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