African Market Watch: Tuesday, 24th March 2015

BRVM [he 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. BRVM 10 index decreased from 269.39 to 268.74pts, a drop of 0.21%. BRVM Composite index lost 0.21% to 263.91 against 264.46pts previously. The equity market capitalization was recorded at XOF 6,512.01 billion. Likewise, the traded value was recorded at XOF 301.086 million and total volumes recorded at 902,438 shares in 229 transactions. The Top Security by volume is Ecobank Transnational Incorporated Togo with 886 219 traded shares and by value is ONATEL Burkina Faso with a XOF 88.64 million total traded value. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) with five advancer and thirteen decliners. On the one hand, top price gainer was CFAO Cote d’Ivorie rose by 7.00% to close at XOF 69,000 and top price loser was Bank of Africa Benin shed off 7.50% to close at XOF 111,000.

The Botswana Stock Exchange’s (BSE) domestic index went down by 27.09pts (0.28%) to close at 9,684.37pts (with year-to-date performance 1.92%) and foreign index remained the same as last previous trading day to close at 1571.11pts (year-to-date of performance -0.41%). The market capitalisation recorded at BWP 377,982 million, the total volume and turnovers were recorded at 15,971,445 shares and BWP 56.879 million respectively. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) with zero advancer and three decliners. Sechaba plunged by BWP 0.47 to trade at BWP 29.00 as investors cashed in profits. Standard Chartered Bank shed BWP 0.03 trading at BWP 12.50 ahead of its FY results and Engen was trading at BWP 9.34 after shedding BWP 0.01. furthermore, On the ETFs, Bettabeta surged by BWP 1.05 to trade at BWP 43.20 per unit while Newplat pocketed BWP 0.80 trading at BWP 112.30 per unit.

The Egyptian Stock Exchange (EGX) retreated collectively on Tuesday as the market capitalisation lost nearly EGP 751 million on strong selling spree by foreign investors. The market capitalization was recorded at EGP 513.644 billion. The benchmark index EGX30 fell 0.07% to 9,367.54 points drove by the blue chip stocks’ declines. Following suit, the small and mid-cap index EGX70 lost 0.22% to 525.97 points and the broader EGX100 went down 0.73% to 1,069.3 points. Tuesday’s turnover amounted to EGP 821.5 million, while traded volume reached around 98.1 million shares sealed through 17,000 transactions. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.6x with 52 advancers and 82 decliners. Beltone Financial topped the gainers, surging 6.71% to close at EGP 9.22 while Wadi Kom Ombo led the losers, falling 7.84% to close at EGP 10.70.  Foreign traders were net sellers by EGP 36.8 million, while local and Arab traders ended as net buyers by EGP 22.9 million and EGP 13.9 million, respectively. Meanwhile, retail traders were net buyers, while institutions were net sellers.

Ghana Stock exchange sustained it recovery, with the benchmark Composite index rose by 1.35pts (0.06%) to 2,195.47pts; this brings its year-to-date performance to -2.90%. However, the financial index shed 0.65pts to 2,189.02pts (-2.43% year-to-date performance). The market capitalization was recorded at GHS 63.483 billion. A market activity measured by volume was recorded at 381,402 in eleven and market value of GHS 961,107. CAL Bank, Benso Oil Palm, Ghana Commercial Bank, Standard Chartered Bank Ghana and Ecobank Transnational Togo were most traded accounting for 98% and 99% of total traded volumes and total trade value respectively. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) berthed at 2x with 2 advancer and 1 decliner. On the one hand, topping the price gainers were Benso Oil Palm Ghana and Ecobank Ghana gained GHS 0.29 to close at GHS 4.56 and GHS 0.01 close at GHS 7.61 respectively. While CAL Bank lost GHS 0.01 to close at GHS 1.05. 

The NSE 20 Index lost 10.07pts (0.21%) to close at 5,254.60pts today. Likewise, Nairobi All Share Index gained 0.55pts (0.32%) to close at 172.57pts with total market capitalization at KES 2,409.41 trillion. The day’s volume of shares stood at 24.99mn with a turnover of KES 770.52mn, indicating an increment of 37.07% compared to yesterday’s turnover. The top mover was Equity Group with a turnover of KES 173.20 million, representing 22.45% of the day’s total market turnover. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) estimated at 2x with 25 advancers and 13 decliners. Standard Chartered Bank went up by 4.53 percent today to close at KES 346.00. However, the top loser today was Eveready which declined by 6.33% to close at KES 3.70. More so, foreign buys stood at 31.23 percent of total turnover, while foreign sales stood at 57.85 percent of total turnover. 

Both Malawi All Share Index and Domestic Index gained 2.35pts and 1.87pts to close at 14,920.29pts and 11,747.44pts respectively. However, the foreign Index remained unchanged to close at 1762.13pts. Total market capitalization was recorded at MWK 7,509.94 billion; a total volume was recorded at 113,587 shares in four transactions and turnover of MWK 17.424 million. The three traded stocks were Real Insurance Company Malawi, Standard Bank Limited Malawi and Telekom Networks Malawi. All price remained unchanged except Telekom Networks Malawi which gained 0.24% to close at MWK 4.10. 

Both indices end in a positive territory today, the Semdex went up by 0.64% to reach 1,974.61pts and the Sem-10 advanced by 1.40% to 375.67pts. The market capitalization recorded at MUR 219.531 billion and overall total volume trade recorded at 24.175 million and turnover on the market amounted to MUR 194.133 million, mainly geared towards SBM Holdings which contributed 90% of total volumes. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) berthed at 0.9x with 7 advancers and 8 decliners.Topping the price gainers were Sun Resorts Mauritius rose by 5.29% to close at MUR 35.80, United Basalt Products Mauritius advanced by 5.00% to trade at MUR 84.00 and Lux Island Resorts Mauritius rose by 3.64% with a close price of MUR 57.00. However, on the price losers were Lottotech Mauritius, CIM Financial Services Mauritius and Automatic Systems Limited Mauritius lost 9.91%, 9.64% and 5.07% respectively. 

Morocco’s benchmark stock index (Madex Index) gained 0.01% to close at 10.410,30pts (8.21% year-to-date performance) with total market capitalization at MAD 524.02 billion and market activities as measured by value closed at MAD 142.892 million. Likewise, Moroccan most active share index (MADEX) closed at 8,550.74pts (rose by 0.09% compared to previous trading day). In term of sector performance, top gainers were Forest & Paper, Chemicals and Telecommunications sectors advanced by 9.95%, 3.34% and 1.03% respectively. Beverages, Oil & Gas and Leisure & Hotels sectors lost 4.68%, 2.77% and 2.54% respectively. The market sentiment was neutral today, as the market breadth (advancer/decliners ratio) berthed at 1x with 14 advancers and 14 decliners. Involys Morocco tops price gainers at 5.63% to close at MAD 150 while Societe des Brasseries Morocco tops the price losers by 5.57% to close at MAD 2,002. Furthermore, FTSE CSE Morocco 15 Index lost 0.14% to close at 9,296.50pts (5.39% year-to-date performance) but FTSE CSE Morocco All-Liquid Index dropped 0.05% to close at 8,820.37pts (9.42% year-to-date performance).

Namibia Overall Index gained by 16.19pts (1.40%) to close at 1,176.14pts and Namibia domestic index lost 0.12 (0.03%) to close at 413.61pts. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) berthed at 2.5x with 16 advancers and 6 decliners. On the one hand, topping the gainers list were Paladin Namibia, Oceana Group and Standard Bank Group gained 6.49% to close at NAD 361.00, 4.35% to close at NAD 10,018.00 and 3.16% to close at NAD 16,991.00. On the other hand, topping the price losers were DEEPYELLO Namibia (7.69% to close at NAD 12.00), Anglo American Namibia (declined by 1.05% to close at NAD 19,511.00) and Oryx Properties (shed off 0.22% to trade at NAD 1,851.00).

The Nigerian Equity Market ended on a positive note as the All Share Index (ASI) notched by 0.21% to close at 29,584pts (with year-to-date performance -14.63%). Market Capitalization gained NGN 26.2 billion to close at NGN 9.9 trillion. Market activity measured by Market volume was recorded at 211.4 million and trade value of NGN 2.8 billion however declined 65.3% and 49.2% respectively. The most actively traded stocks were Zenith Bank, United Africa Company Nigeria, Guaranty Bank Nigeria, Nigerian Breweries and Nestle Nigeria accounted for about 71.9% of the total turnover of NGN 2.8 billion. The Banking sector closed in the green, rising 0.2% on the back of price appreciation in United Bank for Africa (+7.3%), First City Merchant Bank Nigeria (+6.9%) and STANBIC (+2.8%). The Insurance sector followed by 0.1% on the back of investor hunting in NEM Insurance Nigeria (+3.3%). Topping the declining sectors was the Oil & Gas sector (-1.9%) due to price depreciation in SEPLAT (-4.7%), OANDO (-2.1%) and FORTE OIL (-0.2%). The Industrial and Consumer Goods sectors nonetheless closed flat. The mmarket breadth (Advancer/Decliner ratio) closed positive at 1.4x with 23 stocks advancers against 17 decliners.

The Rwandan Stock Exchange All Share Index (RSE ALSI) and RSE RSI remained unchanged to close at 137.30pts and 234.46pts respectively. Bank of Kigali closed at RWF 295.00 with total turnover recorded at RWF 1,041,329,400 from 3,564,600 shares traded 5 deals.  While Bralirwa closed at RWF 380.00 and recorded a total turnover of RWF 76,000 from 200 shares traded once.  Likewise, Equity Holdings Group Ltd (EQTY) closed at RWF 430.00 and recorded a total turnover of RWF 86,000 from 200 traded once. No transaction recorded on National Media Group, Kenya Commercial Bank and Uchumi Supermarket Limited.

South Africa:
The Johannesburg All Share ending 0.57% higher to close at 52,858.18pts. Similarly, the benchmark top-40 index went up by 0.55% to close at 46,735.06pts and JSE Industrial top-25 index gained 0.20% to close at 65,984.16pts. Likewise, the financial index advanced by 1.88% to close at 45,477.05pts. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) recorded at 1.2x with 191 advancers and 153 decliners. On the one hand, amongst the top ten gainers was Conduit Capital whose shares rose 12.63% to ZAR 2.14 after investors exchanged 39,711,639 shares in 56 deals. Capitec climbed 7.19% after 3,240 deals traded 357,374 shares, lifting the share price to ZAR 499.50. On the other hand, Lodestone REIT was amongst today’s top ten losers, after shares slid to ZAR 6.31 after 81 deals exchanged 441,707 shares, resulting in a loss in share price of 9.21%. After investors bought and sold 1,647,506 shares in 1,407 deals, Sappi fell 4.84% to ZAR 48.13 a share by close of day.

The Dar es Salaam Stock Exchange (DSEI) went up by 21.55pts (0.81%) to close at 2,690.39pts and market capitalisation recorded at TZS 23,566.39 billion. However, the DSE TSI lost 40.71pts (0.84%) to close at 4,799.52pts. Today, DSE recorded a total turnover of TZS 73.65 mln from 37,851 shares traded in 52 deals compared to the previous session which recorded a turnover of TZS 68.56 mln from 30,149 shares traded in 23 deals. The market sentiment was positive today; with seven advancers and four decliners. Uchumi Supermarket Ltd was the highest gainer of the day shoving up by 29.41% to close at TZS 220.00. Tanga Cement Company declined by 5.78 percent to close the day at TZS 4,240 was the highest loser of the day.

The Tunis Stock Exchange benchmark index (TUNINDEX) shed off 28.04pts (0.53%) to close at 5,299.54pts (year-to-date performance of 4.09%) with the market capitalization at TND 17.475 billion. Today’s turnover amounted to TND 3.058 million, while traded volume 619,702 shares sealed in 272 transactions and 54 listed companies. The market sentiment was negative today, as the market breadth (advancer/decliners ratio) calculated at 0.5x with 14 advancers and 29 decliners. On the one hand, topping the price gainers were Societe des Industries Pharmaceutiques Tunisia (gained 3.09% to close at TND 8.00), Best Lease Company Tunisia (advanced by 2.84% to trade at TND 1.81) and Societe Nouvelle Maison Tunisia (rose by 2.59% to close at TND 18.99). However, on the losers were Delice Holding Tunisia, Maghreb International and Attijari Leasing Tunisia fell by 5.48%, 4.47% and 4.42% with the closing price of TND 16.4, TND 1.71 and TND 24.13 respectively.

The Uganda Securities Exchange All Share Index (USE ALSI) went down by 0.15% to close at 2,051.12pts. However, the Ugandan Stock Exchange Local Share Index (USE LSI) remained unchanged to close the day at 325.54pts. A total of 2.09 million shares were traded today and total turnover came to a close of UGX 355.03 million. The market sentiment was positive today, with six advancers and three decliners. The top three gainers were Uchumi Supermarket Ltd gained 7.17% to trade at UGX 344.00, New Vision Printing and Publishing Company Limited went up 1.67% to close at UGX 610.00 and Jubilee Holdings Limited rose by 1.62% to close at UGX 17,743.00.

The Lusaka Stock Exchange All Share Index dropped by 0.46% to close at 6,100.63pts in comparison to the previous close of 6,129.02pts. The market capitalization was recorded at ZMK 65.299 billion, including Shoprite Holdings Plc, and ZMK 31.159 billion excluding Shoprite Holdings Plc. Today was a fairly busy day on the equity market, recording 18 trades occurring in 8 securities; BATA Zambia, British American Tobacco Zambia, Madison Financial Services Plc, LAFARGE Zambia, Real Estate Investments Zambia, Zambia National Commercial Bank PLC, Puma Energy Zambia and Standard Chartered Zambia in which 13, 814 shares were transacted resulting in a turnover of K45, 150. Price movers were recorded in Puma Energy Zambia lost ZMK 0.2 and Standard Chartered Bank Zambia shed off ZMK 0.01.


The Industrial index advanced by 0.23pts (0.14%) to close at 161.71pts, with total market capitalization of US$4.206 billion. Today’s total volume and total turnover were recorded at 1.579 million (29 trades) and US$461,588 respectively. The market sentiment was negative today, as the market breadth, with 2 advancer and 4 decliners. On the one hand, the two gainers were Zimre Properties Zimbabwe added 0.20 cents to settle at 1.20 cents and NMB Holdings gained 0.50 cents to close at 3.50 cents. While on the losers were Fidelity Life Assurance Limited Zimbabwe dropped 0.50 cents to trade at 4.50 cents, OK Zimbabwe shed 0.20 cents to 13 cents whilst Innscor Africa Zimbabwe marginally dropped by 0.01 cents to 56.50 cents. Furthermore, the mining index slipped 2.70pts (5.78%) to close at 44.01pts after Bindura Nickel Corporation Limited Zimbabwe eased 0.30 cents to close at 4 cents.

Complied by Capital Markets in Africa

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