African Market Watch: Friday, 10th April 2015

BRVM [The Regional Stock Exchange, Cote d’Ivoire]:
BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, lower than the previous day for both BRVM 10 index and BRVM Composite. The BRVM 10 index fell from 268.21pts to 266.59pts, a drop of 0.63%. The BRVM Composite index decreased by 0.46% to 257.18pts against 258.38pts previously. The equity market capitalization was recorded at XOF 6,345.97 billion. Likewise, the traded value was recorded at XOF 333.758 million and total volumes recorded at 2,014,139 shares in 143 transactions. The top security by volume and valued traded were Ecobank Transnational Incorporated Togo with 2,008,139 traded shares and Bank of Africa Niger with XOF 120.739 million respectively. The market sentiment was negative today (measured as advancer/decliners ratio) with five advancers and sixteen decliners. On the one hand, top price gainer was CFAO Abidjan Cote d’Ivoire rose by 7.50% to close at XOF 68,800 and top price loser was Bank of Africa Senegal fell by 7.50% to close at XOF 64,750.

Botswana:
The Botswana Stock Exchange’s (BSE) domestic index went down by 1.33pts (0.01%) to close at 9,743.73pts (with year-to-year performance 2.55%) and foreign index remained the same as last previous trading day to close at 1571.11pts (year-to-date of performance -0.42%). The market capitalisation was recorded at BWP 370.388 million, the total volume and turnover were recorded at 307,820 shares and BWP 21,547 respectively. The market sentiment was negative today, (measure as the market breadth-: advancer/decliners ratio) with zero advancer and one decliner. Turnstar Botswana fell by BWP 0.01 to close at BWP 2.20.

Ghana:
Ghana Stock exchange ended northward today, with the benchmark Composite index went up by 4.54pts (-0.87%) to 2,222.61pts; this brings its year-to-date performance to -1.70%. Likewise, the financial index rose by 6.29pts (-0.21%) to close at 2,232.73pts (-0.49% year-to-date performance). The market capitalization was recorded at GHS 64,159 billion. A market activity measured by volume was recorded at 31,480 shares changing hands in thirteen shares. The market sentiment was negative today (measured as advancer/decliners ratio) with zero advancer and one decliner. CAL Bank Ghana lost GHS 0.01 to trade at GHS 1.03.

Kenya:
The NSE 20 Index dropped by 4.06pts (-0.08%) to close at 5,123.97pts today. Likewise, Nairobi All Share Index lost 0.85pts (-0.50%) to close at 169.61pts with total market capitalization at KES 2,367.93 billion. The market sentiment was positive today (measured as the market breadth: – advancer/decliners ratio) with twenty two advancers and seventeen decliners. Eveready East Africa Limited was the top gainer of the day, gaining 6.85% to close at KES 3.90. Flame Tree Group Holdings Limited Kenya was the top loser of the day, declining by 6.95 percent to close the day at KES 8.70. The volume of shares traded went up by 18.30 percent to close at 37.96 million whereas total turnover closed at KES 763.012 million.

Malawi:
Both Malawi All Share Index and Domestic Index rose by 16.45pts (0.11%) and 13.09pts (0.11%) to close at 15,508.65pts and 12,221.43pts respectively. However, the foreign Index remained unchanged to close at 1762.13pts.Total market capitalization was recorded at MWK 7,535.08 billion; a total volume was recorded at 88,868 shares in five transactions and turnover of MWK 767,224. The market sentiment was positive (measured as the market breadth: – advancer/decliners ratio) with one advancer and zero decliner. Telekom Networks Malawi rose by MWK 1.12 to close at MWK 6.30.

Mauritius:
The Semdex went down by 0.07pts to close 1,962.30pts and the Sem-10 fell by 0.30pts (0.08%) to 372.20pts. The market capitalization was recorded at MUR 218.162 billion and overall turnover on the official market was recorded at MUR 197.663 million, skewed towards MCB Group Mauritius which accounted for 66% of total market turnover. The market sentiment was negative today (measured as the market breadth advancer/decliners ratio) with six advancers and nine decliners. Topping the gainers list were Lottotech Mauritius, Promotion & Development and Mauritius Oil Refinery advanced by 7.14% (to close at MUR 6.00), 4.97% (to settle at MUR 95.00) and 0.73% (to trade at MUR 27.70) respectively. On the other hand, topping the losers were Bluelife Mauritius fell by 2.91% to close at MUR 5.34, Policy Mauritius decreased by 2.78% to trade at MUR 7.00 and New Mauritius Hotels loss 1.56% to close at MUR 63.00.

Morocco: 
Morocco’s benchmark stock index (MASI Index) declined by 0.93% to close at 9,889.12pts (2.80% year-to-date performance) with total market capitalization at MAD 499.883 billion and market activities measured as total traded value was closed at MAD 53.069 million. Likewise, Moroccan most active share index (MADEX) closed at 8,114.35pts (fell by 0.81% compared to previous trading day). In term of sector performance, top gainers were Pharmaceutical Industry, Telecommunication and Chemicals sectors advanced by 0.44%, 0.08% and 0.06% respectively. On the losers’ chart were Forestry & Paper, Beverage and Oil & Gas declined by 5.07%, 5.05% and 4.55% respectively. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) with 8 advancers and 36 decliners. Promopharm Morocco tops price gainers rose by 5.99% to close at MAD 805.00 while Stokvis Nord Afrique Morocco tops the price losers fell by 7.53% to close at MAD 26.17. Furthermore, FTSE CSE Morocco 15 Index fell by 0.68% to close at 8,741.51pts (-0.90% year-to-date performance) and FTSE CSE Morocco All-Liquid Index lost 0.70% to close at 8,348.88pts (3.57% year-to-date performance).

Namibia:
Namibia Overall Index rose by 8.18pts (0.70%) to close at 1,174.69pts but Namibia domestic index remained unchanged to close at 429.51pts. The market sentiment was positive today (measured as market breadth advancer/decliners ratio) with 16 advancers and 5 decliners. On the one hand, topping the gainers list were Giyani Namibia, Trustworths International and Trustco Group Holding gained 8.77% to close at NAD 62.00, 3.80% to settle at NAD 9.550.00 and 3.03% to trade at NAD 340.00 respectively. On the other hand, topping the price losers were Oceana Group Namibia (lost 3.06% to close at NAD 9,940.00), Bannerman Namibia (fell by 2.17% to close at NAD 45.00) and Anglo PSG Konsult Namibia (decreased by 2.01 to trade at NAD 730.00).

Nigeria:
The rally in the Nigerian Equity Market continued today as the NSE ASI advanced 119bps to close at 34,930.02 bringing year-to-date performance to 0.8%. The extended surge in the market today was on the back of price appreciation in Nigerian Breweries (+5.0%), Zenith Bank Nigeria (+2.3%) and Guaranty Trust Bank (+1.8%). Market activity also increased as value and volume traded gained 92.8% and 170.1% to close at N8.0 trillion and 1.6 billion units respectively. All sectors closed positive, the Oil & Gas index rebounded and appreciated the most today (+2.9%) driven by price appreciation in Oando (+7.9%) and SEPLAT (+5.0%), followed by the  Consumer Goods index which rose 2.0% attributable to the rally in NIGERIAN BREWERIES (+5.0%). The Industrial Goods, Banking and Insurance indices gained 1.2%, 1.2% and 0.6% respectively. Sentiment in the Nigerian Bourse measured by advancers/decliners ratio was positive today at 2.2x. BETAGLAS (+10.2%), OANDO (+7.2%) and FCMB (+7.1%) led the 38 advancing stocks while PRESCO (-6.3%), CHAMPION (-4.8%) and INTERNATIONAL BREWERIES (-4.5%) led the 17 declining stocks. We expect that the bullish run may moderate slightly after the gubernatorial elections notwithstanding the positive sentiments in the air as short term investors may take profit.

Rwanda:
The Rwandan Stock Exchange All Share Index (RSE ALSI) and RSE RSI remained unchanged to close the day at 137.16pts and 233.16pts respectively. The market capitalisation was recorded at RWF 2,925 billion and market activities measured as total volume and trade value were recorded at 5,100 shares (in two transactions) and RWF 1.914 million. In addition, the trading session recorded a total turnover of RWF 1,885,000 from 5,000 shares traded in Bralirwa share.

South Africa:
The Jonesburg Stock Exchange All Share index closed up 0.71% as the week ended on a positive note. Gold miners gained 4.17% supported by positive demand for both financial and industrial stocks. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) with 238 advancers and 117 decliners. In the top gainers today was Finbond Group Ltd which advanced 8.28% to end at ZAR 3.40 per share after 941,270 shares were bought in 61 deals. Also in the gainers column was Consolidated Infrastructure Group Limited which rose 6.43% to close at ZAR 28.81 per share following the trading of 501,469 shares in 376 deals. On the losers’ chart today were Petrmin Limited which dropped 3.85 % to trade at ZAR 1.25 per share after 872,860 shares were sold in 42 deals and Kumba Iron Ore Limited which fell 4.09% to end at ZAR 136.00 per share after 720,205 shares were sold in 3263 deals.

Tanzania:
The Dar es Salaam Stock Exchange (DSEI) gained 24.47pts (0.92%) to close at 2,693.14pts and market capitalization recorded at TZS 23,578.76 billion. Likewise, the DSE TSI rose by 0.95pts (0.02%) to close at 4,819.55pts. Today, DSE recorded a total turnover of TZS 7,080.57 million from 496,133 shares traded in 67 deals compared to the previous session which recorded a turnover of TZS 439.37 million from 76,956 shares traded in 61 deals. The market sentiment was positive today, with eight advancers and four decliners. The top gainer of the day was Kenya Airways, edging up by 7.14 percent to close at TZS 150; while Uchumi Supermarket Limited was the top loser declining by 5.00 percent to close the day at TZS 150.00.

Tunisia:
The Tunis Stock Exchange benchmark index (TUNINDEX) rose by 15.03pts (0.28%) to close at 5,379.30pts (year-to-date performance of 5.65%) with the market capitalization at TND 18.30 billion. Today’s turnover amounted to TND 3.829 million, while traded volume 754,232 shares. The market sentiment was positive today (measured as market breadth advancer/decliners ratio) with 27 advancers and 24 decliners. On the one hand, topping the price gainers were Societe Magasin General Tunisia (gained 6.63% to trade at TND 27.75), Assurances Salim Tunisia (advanced by 5.89% to close at TND 21.57) and Electrostar Tunisia (rose by 3.04% to settle at TND 6.78). On the other hand, topping the price losers were Maghreb International Publicite Tunisia, Tuninvest and Les Ciments de Bizerte fell by 3.33%, 2.89% and 2.88% to close at TND 1.45, TND 1.21 and TND 5.73 respectively.

Uganda:
The Uganda Securities Exchange All Share Index (USE ALSI) went down by 27.75pts (1.36%) to close at 2,017.35pts with market capitalization recorded at UGX 27,575.83 million. Likewise, the Ugandan Stock Exchange Local Share Index (USE LSI) fell by 0.22pts (0.07%) to close the day at 324.14pts. A total of 1.328 million shares were traded today and total turnover came to a close of UGX 463.590 million. The market sentiment was negative today, with three advancers and five decliners. Topping the gainers list was Kenya Airways with a gain of 3.35% to close at UGX 247.00 while Jubilee Holdings Limited tops the loser of the day by declining by 8.87% to trade at UGX 16,661.

Zambia:
The Lusaka Stock Exchange All Share Index remained unchanged to close at 6,115.47pts in comparison to the previous close. The market capitalization was recorded at ZMK 65.435 billion, including Shoprite Holdings Plc, and ZMK 31.195 billion excluding Shoprite Holdings Plc. A total of 22,511 shares were transacted in 24 trades, yielding a total turnover of ZMK 35,852. Trading was recorded in Copperbelt Energy Corporation, Lafarge Cement Zambia, Madison Financial Services Plc Zambia, Standard Chartered Zambia, and ZANACO.

Zimbabwe:
The Industrial index closed higher by gaining 1.20pts (0.77%) to close at 156.51pts, with total market capitalization of US$4.060 billion. Today’s total turnover was recorded at US$10.760 million in 41 transactions. The market sentiment was negative today, with five advancers and six decliners. Delta Corporation Limited Zimbabwe recovered 1.46 cents to trade at 103.50 cents, OK Zimbabwe was 0.40 cents firmer at 11 cents and Dawn Properties Zimbabwe gained 0.10 cents to settle at 1.10 cents. Likewise, Africa Sun Limited moved up by a further 0.08 cents to trade at 2.90 cents. However, Seed Company Limited lost 1.50 cents to trade at 100 cents and Astra Industries Limited Zimbabwe dropped 0.40 cents to 4.10 cents. Similarly, Turnall Holdings Limited shed 0.30 cents to a cent and Padenga Holdings Limited eased by 0.20 cents to close at 9.80 cents. On the other hand, the Mining index retreated by 0.61 points (1.75%) to close at 34.31pts.

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