African Market Watch: Tuesday, 10th March 2015

Egypt: The Egyptian Exchange (EGX) slid on Tuesday, losing around EGP 1.3 billion of its capitalization as traders booked gains from most leading stocks. The benchmark index EGX30 shut slightly lower by 0.04% at 9709.5 points, while small and mid-cap index EGX70 lost 0.52% to 566.38 points. The broader index EGX100 ended 0.34% lower at 1132.29 points. Today’s turnover amounted to nearly EGP 2 billion, while traded volume reached 153.2 million shares and number of transactions totalled approx. 24,300. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.4x with 44 advancers and 101 decliners. On the one hand, topping the gainer price list were Arab Moltaka Investments Co, Alexandria Cement and Advanced Pharmaceutical Packaging Co. (APP) appreciated by 5.17%, 4.53% and 3.48% to close at EGP 28.47, EGP9.92 and EGP10.11 respectively. On the other hand, topping the loser price list were Credit Agricole Egypt, Al Baraka Bank Egypt and El Arabia for Land Reclamation depreciated by 4.60, 4.13% and 3.96% to close at EGP21.16, EGP11.37 and EGP11.65 respectively.  Local traders were net sellers by EGP1.428 billion, while foreign and Arab traders ended as net buyer by EGP 32.89 million and EGP1.395 billion, respectively. Meanwhile, retail traders were net buyers, while institutions were net sellers.

Ghana: The benchmark Composite index went down by 1.7pts to 2,177.47pts; this brings its year-to-date to -3.70%. Likewise, the financial index dropped 2.35pts to 2,170.01pts (-3.42% year-to-year performance). The market capitalization was recorded at GHS 63.385. Market activities measured by volume and value traded were recorded at 668,331 shares and GHS 3.17million was exchanged in fourteen equities. Ecobank Ghana, Ecobank Trans Inc, Ghana Oil, HFC Bank and CAL Bank were the five top most actively traded stocks by volume accounted for c.99%. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) berthed at 2x with 2 advancers and 1 decliners. On the one hand, topping the price gainers list were Ghana Commercial Bank and Ecobank Ghana gained 0.19% (to close at GHS 5.26) and 0.13% (to close GHS 7.53) respectively. On the other hand, HFC Bank lost 4.17% to close at GHS 1.15.

Kenya: The NSE 20 Index further dropped 3.00pts (0.06%) to close at 5,368.69pts today. However, the NASI Index gained 0.85pts (0.64%) to close at 172.52pts with total market capitalization at KES 2,408 trillion. The total volume of shares traded closed at 36.82mn as total turnover closed at KES 1,343.65mn depicting an increase of 112.87 percent and 76.68 percent respectively. The top mover was Equity Group with a turnover of KES 469.20mn, representing 34.92percent of the day’s total market turnover.  The market sentiment was positive today, as the market breadth (advancer/decliners ratio) berthed at 1.1x with 22 advancers and 20 decliners. On the one hand, topping the price gainers list were Crown Berger, BOC Kenya and Nation Media went up by 9.68%, 8.82% and 4.26% to close KES136.00, KES148.00 and KES245.00 respectively. On the other hand, topping the loser price list were Eveready EA, Kengen and Uchumi Super lost 5.81%, 4.62% and 3.67% respectively.  The top mover was E.A Breweries with a turnover of KES 234.21mn, representing 30.80 percent of the day’s total market turnover. Furthermore, foreign buys stood at 31.32% of total turnover, which was a notch lower than the 47.78% of total turnover reported yesterday, while foreign sales stood at 52.46% of turnover compared to yesterday’s 61.33%.

Malawi: Both Malawi All Share Index and Domestic Index gained 5.55pts (0.04%) and 4.42pts (0.04%) to close at 14976.56pts and 11792.2pts respectively. Whereas, the Foreign Index remained unchanged to close at 1762.13pts. Total market capitalization was recorded at US$17,278.66mn and the market sentiment was neutral today, as the market breadth (advancer/decliners ratio) berthed at 1x with zero advancers and zero decliners. NBS Bank, First Merchant Bank, Telekom Network Malawi, Malawi Properties Investment and NICO Holdings were the top five traded shares by volume accounted for c.99% with trade value recorded at US$ 15,196.78 exchanged in nine deals.

Mauritius: Indices posted mixed performance today. The Semdex lost 1.20pts (0.06%) to close at 1,995.41 pts while the Sem-10 gained 0.01% to close at 376.50pts. Overall turnover on the market amounted to MUR 20.1m, mainly geared towards LUX which accounted for 43.5% of total value traded. MCB Group lost 0.5% to Rs 201.00 on total volume of 12.6k shares. SBM Holdings reached low of MUR 0.99 before closing at MUR 1.00 (+1.0%) on 0.6m shares. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.4x with 3 advancers and 7 decliners. On the one hand, topping the price gainers list were State Bank of Mauritius, Ireland Blyth Ltd and Lottotech Limited gained 1.01%, 0.89% and 0.69% to close at MUR 1.00, MUR 113.00 and MUR 8.76 respectively. On the other hand, topping the price losers were Bramer Banking, Automatic Systems and National Investment Trust lost 3.47%, 2.67% and 1.04% to close at MUR 5.00, MUR 73.00 and MUR 47.50 respectively. On the DEM, the index was down by 0.7% to 200.18 points on a turnover of MUR 22.2m

Morocco: Morocco’s benchmark stock index (Madex Index) dropped 0.13% to close at 10,513.78pts (9.29% year-to-date performance) with total market capitalization at MAD 528.79bn and market activities as measured by value closed at MAD 127.80mn. Moroccan most active share index (MADEX) closed at 8,631.04pts (gained 0.12% compared to previous trading day). In term of sector performance,  Distributions and Oil & Gas sectors gained 1.45% and 1.01% respectively, whilst Chemical, Engineering & Equipment Industrial Goods and Forestry & Paper lost 8.36%, 2.13% and 2.11% respectively. Furthermore, FTSE CSE Morocco 15 Index dropped 0.19% to close at 9,426.82pts (6.67% year-to-date performance) and FTSE CSE Morocco All-Liquid Index dropped 0.10% to close at 8,907.08pts (10.39% year-to-date performance). The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.5x with 12 advancers and 25 decliners.

Namibia: Namibia Overall Index lost 11.40pts (0.98%) to close at 1,150.02pts whereas Namibia domestic index gained 0.55pts (0.13%) to close at 410.18pts. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.3x with 4 advancers and 14 decliners. On the one hand, topping the gainers list were Oceana Group, Bank Wind NM and Sanlam gained 4.24%, 0.62% and 0.48% to close at NAD 10,945.00, NAD 1,460.00 and NAD 21,880.00 respectively. On the other hand, topping the losers price list were NedBank Group, Shoprite Holdings and Barlowordl Namibia dropped 3.05%, 2.97% and 2.49% to close at NAD 24,225.00, NAD 5,988.00 and NAD 8,581.00 respectively.

Nigeria: The Nigerian Equities market stayed bullish today as the market closed positive for the second trading session in the week. The benchmark Index — the All Share Index (ASI) gained 51bps to close at 31, 355.28 points. Market capitalisation also increased by NGN53.2bn closing at NGN10.5tn. Similarly, market activities measured by volume and value, rose by 13.5% and 5.0% accordingly closing at 528.9m units and N5.3bn respectively. All sector indices trended north. The Banking sector index led the gainers, appreciating 1.0%, the Industrial Goods index also closed positive with 0.5% followed by the Consumer Goods index (0.3%) and the Insurance index (0.1%). The Oil and Gas Index however closed flat today. The market sentiments remained positive today as market breadth (advancers/decliners ratio) pegged at 1.4x with 26 gainers and 18 decliners. Topping the price gainers list were AIICO (6.7%), followed by Ikeja Hotel (5.0%) and Conoil (5.0%) whilst BETAGLAS (5.0%), Champion (4.9%) and Costain (4.1%) led the losers.

Rwanda: The Rwandan Stock Exchange All Share Index (RSE ALSI) and RSE RSI remained constant to close at 137.33 and 234.63 respectively. The market capitalization was recorded at RWF 2,929bn whereas the total volumes were recorded at 7.973 million traded in 10 deals and turnover at RWF 2.36 billion. Bank of Kigali, Bralirwa closed and Equity Bank Limited closed at RWF 296, RWF 380 and RWF 430 respectively (same as previous trading day). No transaction recorded on National Media Group, Kenya Commercial Bank and USL counters.

South Africa: The All Share index ended 1.0% lower today to close at 52,088pts. Similarly, the benchmark Top-40 index dropped 1.06% to close at 46148.91pts and JSE Industrial top 25 companies increased by 0.89% to close at 65931.04pts. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.3x. Amongst the top gainers on Tuesday was Anchor Group (ACG), after 117 deals totalling 265,609 shares rose 8.63% to sell at R10.70 a share. Gold Fields (GFI) climbed 5.62% to sell at R46.79 a share after 4,092,401 shares were exchanged in 6,542 deals. Cadiz Holdings (CDZ) tumbled 7.27% to R1.02 a share, taking its place on the top ten biggest losers list today after investors bought and sold 2,239,728 shares in 11 deals. Lonmin (LON) lost 6.96% after investors traded 2,356,841 shares in 1,987 deals, sending the share price plunging to R21.40.

Tanzania: The Dar es Salaam Stock Exchange (DSEI) shred off 0.16% to close at 2,629.29pts and market capitalisation recorded at TZS 22.89bn. Likewise, the DSE TSI decreased by 0.36% to close at 4,859.49pts. Today, DSE recorded a total turnover of TZS 2.70bn from 6.51m shares in 53 deals. A market sentiment was neutral today, as the market breadth (advancer/decliners ratio) berthed at 1x with 5 advancers and 5 decliners. On the one hand, Swala was the highest gainer of the day going up by 14.29 percent to close at TZS 600.00. On the other hand, National Micro-finance Bank declined by 2.93 percent to close at TZS 3,980.00 to be the highest loser of the day.

Tunisia: The Tunis Stock Exchange benchmark index (TUNINDEX) dropped 22.83pts (0.42%) to close at 5,353.08pts with the market capitalization at TND 18.28bn. Likewise the Tunis top-20 capitalised index also dropped 0.53% to close at 2,284.04pts. Today’s turnover amounted to TND 2.96mn, while traded volume 453,871 shares sealed in 58 listed companies. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 1x with 18 advancers and 25 decliners. On the one hand, topping the price gainers list were MONOPRIX, SPDIT-SICAF and Best Lease Company gained 3.96%, 2.95% and 2.94% respectively. On the other hand, topping the loser price list were Assurance Salim, SOPAT and Tunisia Air lost 4.41%, 4.15% and 3.80% respectively.

Uganda: The Uganda Securities Exchange All Share Index (USE ALSI) remained at the same level to close at 2,026.02pts. Likewise the Ugandan Stock Exchange Local Share Index (USE LSI) remained at the same level to close the day at 324.52pts. A total of 232,557 shares were traded representing a 67.89 percent decline from yesterday’s 724,240 shares. Total turnover came to a close of UGX 41.35mn.

Zimbabwe: The Industrial index lost 0.93pts (0.56%) to close at 163.93pts with total market capitalization of US$4.27billion. Today’s total volume and total turnover were recorded at 1.50mn (27 trades) and US$561,765 respectively. The beverage giant Delta Corporation Limited lost 2.50 cents to 110 cents and Old Mutual retreated by 2 cents to close at 235 cents. On the gainers list were Econet Telecom added 0.60 cents to close at 50.60 cents and Colocom Holdings Limited gained 2 cents to close at 26 cents. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.5x with 2 advancers and 4 decliners.

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