Stock Exchange of Mauritius indices show banking sector striding forward
The largest listed hotelier, New Mauritius Hotels and the banking trio of MCBG, State Bank of Mauritius (SBM) and Bramer Bank, accounted for as much as 63% of the total market turnover of Rs 204.4 million (USD 6.7 million) over the last week. (Image: Stock Exchange of Mauritius)
Stock Exchange of Mauritius indices closed the week ended 01 August 2014 on a positive note with the Semdex and SEM-7 gaining 0.3% and 0.4% to reach 2,097.86 points and 404.54 points respectively, according to market highlights published by Anglo-Mauritius Stockbrokers.
During the past week, the largest listed hotelier, New Mauritius Hotels (which runs hotels under the Beachcomber brand) and the banking trio of MCBG, State Bank of Mauritius (SBM) and Bramer Bank, accounted for as much as 63% of the total market turnover of Rs 204.4 million (USD 6.7 million).
The banking sector saw MCBG pursue its ascension this week as well, reaching a high on Rs 215.00 last Thursday before finally closing at Rs 214.75 with a total volume of 129,800 shares traded.
While SBM closed unchanged at Rs 1.07, at which price level most of the significant volume of 33.5 million shares was exchanged, Bramer Bank was the highlight of Monday’s trading session where 3 million shares exchanged hands at Rs 6.96.
In the insurance space, Mauritius Union Assurance (MUA) remained unchanged at Rs 136.00 on 10,700 shares, while Swan Insurance fell by 0.3% to Rs 298.00, with a thinly traded volume of 2,100 shares.
The commercial firms were successful with ENL Commercial shares increasing in value by 1.0% to Rs 21.20, Innodis gaining 0.9% to Rs 57.00 on 12,000 shares while Vivo Energy climbed up by 0.7% to Rs 136.00 with 68,500 shares traded.
In the construction sector, Gamma Civic closed the week unchanged at Rs 48.50 with a significant traded volume of 61,300 shares.
In the industrial space, Phoenix Beverages Limited (PBL) declined by 0.1% to reach Rs 199.75 with 7,500 shares exchanged and Moroil fell by 1.3% to Rs 27.20 as well.
Alteo declined 0.3% to Rs 34.50 with 44,100 shares traded overall while ENL Land, which closed unchanged at Rs 49.00, witnessed a notable traded volume of 62,600 shares.
Terra remained level at Rs 37.00 on 246,500 shares traded, Ciel gained 1.5% to hit Rs 6.96 with a significant traded volume of 647,500 shares and Promotion and Development (PAD) shot up to Rs 94.00 on Thursday but closed at Rs 93.75, up 4.2%.
Additionally, Rogers gained 0.9% to Rs 200.00 with 18,700 shares traded.
The other investment stocks which were actively traded this week were Caudan with 0.8% increase, while both Mauritius Development Investment Trust Company Limited (MDIT) and POLICY saw share values decline by 0.3% and 0.8% respectively.
Gaming major Lottotech closed unchanged at Rs11.70 on total volume of 215,300 shares exchanged.
In hospitality, New Mauritius Hotel saw 507,800 shares traded overall. The hospitality major gained 0.6% to close at Rs 87.50. Lux Resorts went up 1.1% to close at Rs 47.50 on 151,200 shares exchanged and Sun Resorts catapulted to Rs 46.00 on Thursday on merely 200 shares traded to tumble down to Rs 41.10 (+0.2%), with 50,000 shares traded.
Sugar major Omnicane held steady at Rs 88.00, with 54,200 shares traded.
Meanwhile, the DEMEX gained 0.2% to reach 189.74 points on a weekly turnover of Rs 15.9 million geared towards ENL (P) and CIEL Textile, which accounted for 66% of total market turnover.
Following the announcement that it had issued secured notes of Rs 1.15 billion, the stock of ENL (P) closed at Rs 25.20 with 0.8% increase with significant crosses of 126,000 and 50,000 shares respectively traded at Rs 24.75 on Thursday.
CIEL Textile witnessed several trades over the week and climbed by 2.3% to Rs 33.75, with 151,200 shares traded.
Finally, the main movers on the counter were Bychemex with 5.3%, EUDCOS with 3.3%, whilst SIT Options, Medical and Surgical, and Union Sugar Estate dipped by 6.7%, 2.9% and 3.5% respectively.