Movers & Shakers: March 26, 2014

Botswana: DCI +0.11%, USD 150k

It was another average day in Gaborone as value traded amounted to USD 150k with BIHL (68k shares) driving turnover.

Egypt: EGX 30 -0.25%, USD 149m

The market traded the day on mixed sentiment leaving the EGX30 to end the day down 0.25% to close at 8,480.52 points. Market volumes continued to be strong, with a total turnover USD 149m. CCAP(+5.54%) and COMI (+0.81%) managed to gain buying appetite, but the market witnessed selling pressure after mid-session to trade in the reds lead mainly by local institutions. GTHE, ESRS, and ETEL came under pressure, dropping 1.43%, 0.60%, and 1.18%, respectively.

Kenya: NSE 20 -0.10%, USD 10.7m

Much better day in Nairobi as value traded increased to $10.7m on the back of an increase in foreign participation (55%). EABL was the most active name on the day as 871k shares changed hands with the brewer closing -0.4% lower with foreigners dominating both sides of the name. Local demand drove Safcom (+0.8%) higher as 15.82m shares traded in the telco. Local selling drove KNCB (-0.5%) lower as 2.74m shares traded. There was a large foreign cross in BATK (100% of volume in the name) as 130k shares changed hands.

Mauritius: Semdex +0.70%, USD 13.46m

Massive day in Port Louis from a turnover ppoint of view as value traded amounted to USD 13.46m thanks to GML Investment Limited's 10% purchase in Sun Resorts (9.38m shares). Elsewhere the market was very quiet with just 6m SBM changing hands while 101k shares traded in Terra.

Nigeria: ASI +0.24%, USD 56.83m

An absolutely massive cross in Nestle ($39m) drove activity today as a total of 6.47m shares changed hands in the counter with total value traded on the day amounting to $56.83m. There was also some activity in the tier-1 banks with GTB (4.38m), Zenith ($2.19m) and FBNH ($1.83m) being amongst the most active. Banks (-0.80%) closed the day lower after yesterday's interest rate announcement with Zenith (-2.04%) being the major drag on the sector while FBNH (+3.93%) was ramped up right at the close. Consumers (+1.11%) had a good day thanks to good performances in IntBrew (+4.97%), Guinness (+2.85%) and Nestle (+2.79%) pushing the sector higher.

Please note that the index figure above is correct at the time of writing.

Zimbabwe: Industrials -0.92%, Mining unch, USD 2.61m

Pockets of demand continued to emerge on the bourse despite registering losses that saw the benchmark index easing 0.92% to 175.47pts. Following today’s losses the index has effectively been on a 9 day losing streak on low sentiment in the market. However demand which has resurfaced lately stayed positive into the mid-week with turnover staying put above the $2m level adding 14% on yesterday to $2.61m. The upsurge in turnover was against a 17% improvement in foreign portfolio investments to $1.65m. The mining index was flat at 30.24pts as bindura traded flat at 1.3c. Foreign purchases contribution stood at 63% of the aggregate turnover while Econet was the most sought after stock by foreign investors.

African Currencies