African Market Watch: Wed, 11th March 2015

Egypt: The Egyptian Exchange (EGX) slid on Tuesday, losing around EGP1.3 billion of its capitalisation 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 49 advancers and 124 decliners. On the one hand, topping the gainer price list were Arab Development & Real Estate Investment, Lecico Egypt, and Abu Qir Fertilizer Company gained 20.65%, 9.63% and 4.58% to close at EGP2.22, EGP9.9 and EGP160 respectively. On the other hand, topping the loser price list were Pharaoh Tech, Misr Oils & Soap and Shourouk Press lost 8.35%, 7.70% and 7.05% to close at EGP12.40, EGP 9.47 and EGP11.60 respectively. Arab and foreign investors were net sellers by EGP313,600 and EGP9.9 million, respectively, while nationals were net buyers by EGP 10.3 million.

Ghana: The benchmark Composite index climbed by 1.4pts to 2,178.87pts; this brings its year-to-date to -3.63%. Likewise, the financial index dropped 1.93pts to 2,168.94pts (-3.33% year-to-year performance). The market capitalization was recorded at GHS63.392 billion. Market activities measured by volume and value traded were recorded at 73,598 shares and total value of trade amounted to GHS355,248. Unilever, CAL Bank, Total Petroleum, SIC Insurance and HFC Bank were the top five most actively traded shares by volume accounted for c.93% of total traded volume. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.5x with 1 advancers and 2 decliners. On the one hand, HFC Bank gained 0.45% (to close at GHS1.20). On the other hand, Ghana Commercial Bank and UT lost 0.19 and 5.00% to close at GHS5.25 and GHS0.19 respectively.

Kenya: The NSE 20 Index further dropped 6.26pts (0.12%) to close at 5,362.43pts today. However, the NASI Index gained 0.19pts (0.11%) to close at 172.71pts with total market capitalization at KES2,411.31 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% respectively. The total volume of shares traded closed at 19.35mn as total turnover closed at KES581.71mn depicting a decline of 47.46% and 56.71% respectively. The top mover was Equity Group with a turnover of KES212.18mn, representing 36.48% 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 Flame Tree Group,  Kakuzi and Williamson Tea gained 4.60%, 4.38% and 4.10% to close at KES9.10, KES 310.00 and KES 284.00 respectively. On the other hand, topping the loser price list were Mumias Sugar, Crown Berge Paints and Home Afrika Ltd fell by 11.29%, 8.21% and 4.35% to close at KES 2.75, KES 123.00 and KES 3.30 respectively. In addition, foreign sales stood at 60.72% of turnover compared to yesterday’s 52.46%.

Mauritius: Both indices end in negative today, the Semdex lost 6.84pts (0.34%) to 1,988.58pts and the Sem-10 lost 0.41% to 374.96pts. The market capitalization recorded at MUR 221.08 billion and overall total volume trade recorded at 11.21mn and turnover on the market amounted to MUR 82.51mn, mainly geared towards CIM Financial Services Ltd, CIEL Limited and New Mauritius Hotels Ltd which together accounted for 72.1% of total value traded. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.8x with 7 advancers and 9 decliners. On the one hand, topping the price gainers list were Lottotech Limited, CIEL Limited and Mauritius Union Assurance Co. Ltd gained 2.51%, 1.77% and 0.66% to close at MUR 8.98, MUR 6.90 and MUR 76.00 respectively. On the other hand Air Mauritius Limited, BlueLife Limited and Phoenix Beverages lost 3.21%, 3.16% and 1.67% to close at MUR 15.60, MUR 4.75 and MUR 285.00 respectively. While on the DEM, the index was up by 0.2% to 200.57 points on a turnover of Rs 13.6m.

Morocco: Morocco’s benchmark stock index (Madex Index) dropped 0.23% to close at 10,489.51pts (9.04% year-to-date performance) with total market capitalization at MAD 527.67bn and market activities as measured by value closed at MAD 198.24mn. Moroccan most active share index (MADEX) closed at 8,609.70pts (lost 0.25% compared to previous trading day). In term of sector performance, top gainers are Real Estate, Electricity and Pharmaceutical Industry increase by 1.66% 0.60% and 0.02% respectively, whilst top losing sectors were Chemical, Forest & Paper and Engineering & Equipment Industrial Goods declined by 8.15%, 5.05% and 2.77% respectively. Furthermore, FTSE CSE Morocco 15 Index dropped 0.10% to close at 9,408.85pts (6.67% year-to-date performance) and FTSE CSE Morocco All-Liquid Index dropped 0.12% to close at 8,898.12pts (10.39% year-to-date performance). The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.6x with 11 advancers and 19 decliners.

Namibia: Namibia Overall Index lost 9.4pts (0.79%) to close at 1,140.88pts whereas Namibia domestic index remained unchanged to close at 410.18pts. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.5x with 7 advancers and 14 decliners. On the one hand, topping the gainers list were Bannerman Resources Ltd, Truworths International Ltd and Psg Kst Namibia gained 4.00%, 2.38% and 2.09% to close at NAD 52.00, NAD 8,677.00 and NAD 731.00 respectively. On the other hand, topping the losers price list were Giyani Namibia, African Oxygen and Oceana Group lost 14.27%, 5.42%% and 3.72% to close at NAD 54.00, NAD 1,275.00 and NAD 10,538.00 respectively.

Nigeria: The Nigerian bourse closed today on a bearish note. The All Share Index (ASI) shed 155bps to close at 30,869.17pts against the backdrop of declines recorded by bellwether stocks such as Nigerian Breweries and Guaranty Trust Bank lost 5.0% each. In like manner, market capitalization trimmed 1.6% to close at N10.3tn. Furthermore, market activity measured by volume and value declined 1.9% and 0.3% settling at 518.9m units and N3.9bn respectively.  All sectors declined at the close of market with the Banking sector chairing by 2.9%, followed by Consumer Goods Index (2.2%) and Oil & Gas, Insurance and Industrial Goods indices also lost to 1.9%, 0.7% and 0.4% respectively. The market breadth measured by advancers/decliners ratio closed negative at 0.6x (19 Advancers vs. 30 Decliners).  On the one hand, topping the gainer chart were UBCAP, Caverton and Ashaka Cement gained 9.5%, 5.0% and 5.0% respectively. On the other hand, Honeywell Flour, Forte Oil and NCR lost 5.00% respectively led the decliners.

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 2,929.133bn whereas the total volumes were recorded at 16,000 traded in 6 deals and turnover at RWF 5.2mn. Bank of Kigali, Bralirwa closed and Equity Bank Limited closed at RWF 296, RWF 380 and RWF 430 respectively (same as previous trading day) with total turnover recorded at RWF 3.353mn (in 11,400 shares traded in 2 deals) and RWF 1.745mn (in 4,600 shares traded in 4 deals) and zero turnover respectively. No transaction recorded on National Media Group, Kenya Commercial Bank and USL counters.

South Africa: The All Share index ended 0.64% lower today to close at 51,753.07 pts. Similarly, the benchmark Top-40 index dropped 0.70% to close at 45,825.87pts and Mining sector dropped by 2.9% to close at 2, 4755.08pts. Likewise Financial Top-15 index, Mid cap index and Small Cap index declined by 0.12%, 0.33%, and 0.47% to close at 16,745.89pts, 71,690.35pts and 59,396.56pts respectively. Petmin Ltd rose 1.35% to close at ZAR 1.50 with 30 trades moving 6,477,111 shares. Eqstra Holdings Ltd (EQS) advanced 6.06% to close the day at ZAR 3.85 per share with 3,371,086 shares traded through 220 deals. Amongst the biggest decliners today were Lonmin Plc which lost 4.67% to close down at ZAR 20.40 per share with 1,267,795 shares traded through 1265 deals. Vunani Ltd retreated 5.86% to trade at ZAR1.60 per share after 3 deals sold 600,583 shares.

Tanzania: The Dar es Salaam Stock Exchange (DSEI) shred off 0.86% to close at 2,606.78pts and market capitalization recorded at TZS 22.89bn. Likewise, the DSE TSI decreased by 0.11% to close at 4,854.04pts. Today, DSE recorded a total volumes were recorded at 189,860 shares as Total turnover closed at TZS 177.99mn. Swissport Tanzania was the highest gainer of the day going up by 0.93 percent to close at TZS 6500.00. Africa Barrick Gold decreased by 11.69 percent to close the day at TZS 6,420 to be the highest loser of the day. Total volumes were recorded at 189,860 shares as Total turnover closed at TZS 177.99mn.

Tunisia: The Tunis Stock Exchange benchmark index (TUNINDEX) gained 8.03pts (0.15%) to close at 5, 5361.11pts with the market capitalization at TND 18.01bn. Likewise the Tunis top-20 capitalised index also gained 0.25% to close at 2,289.68pts. Today’s turnover amounted to TND 3.07mn, while traded volume 510,878 shares sealed in 59 listed companies. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.8x with 20 advancers and 26 decliners. On the one hand, topping the price gainers list were Tunisia RE, Sotipapier, and Arab Tunisia Bank gained 2.89%, 1.84% and 1.68% respectively. On the other hand, topping the loser price list were Banque Nationale Agricole (BNA), SOTETEL, and Modern Leasing lost 3.45%, 2.90% and 2.87% to close at TND 9.50, TND 2.67 and TND 5.07 respectively.

Uganda: The Uganda Securities Exchange All Share Index (USE ALSI) increase by 1.09% to close at 2,038.11pts with market capitalization recorded at UGX 27,859.71mn. However, the Ugandan Stock Exchange Local Share Index (USE LSI) remained at the same level to close the day at 324.52pts. A total of 481,106 shares were traded representing a 106.88 percentage increase from yesterday’s 232,557 shares. Total turnover came to a close of UGX 16.33mn. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) berthed at 1.7x with 5 advancers and 3 decliners. Nation Media Group (4.21% to close at UGX 1,700), Equity Bank Limited (3.28% to close UGX 1,700.00) and Jubilee Holdings Limited (1.47% to close at UGX 17.854) led the gainer chart.  Whereas the three losers were Centum Investment Company Ltd (0.69% to close at UGX 9,810), Kenya Airways (0.64% to close at UGX 309) and KCB Group (0.52% to close UGX 1,929).

Zimbabwe: The Industrial index lost a further 0.69pts (0.42%) to close at 163.24pts in thin trading. with total market capitalization of US$4.25billion. Today’s total volume and total turnover were recorded at 845,915 (28 trades) and US$104,707respectively.The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.6x with 3 advancers and 5 decliners. FBC Holdings Limited, Dawn Properties Limited and Econet Wireless gained 14.28% (to close at 8 cents), 10.00% (to close at 1 cent) and 0.79% (to close at 51 cents) respectively. Whereas, OK Zimbabwe dropped 0.80 cents to close at US$013. HIPPO which slipped 0.50 cents to settle at 48.50 cents, DZLH eased 0.30 cents to trade at 8 cents and BARCLAYS was 0.25 cents softer at 4 cents.

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