Movers & Shakers: January 16, 2013

Botswana: DCI +0.07%, USD 2.63m

Large volumes in Gaborone although Letshego the only real activity. 10.2mill shares traded in the name accounting for 98.5% of the daily turnover with most of the action taking place at 200t. The rest of the names were very muted.

Egypt: EGX 30 +0.59%, USD 51m

The market ended that day in positive territories supported by notable institutional buying, the EGX30 ended the day up 0.59% to close 5,690.67 points. The market continues to trade weaker volumes relative to recent turnovers, this is mainly attributed to the lack of catalyst in the market as many investors continue to wait on sidelines awaiting the IMF results, the market traded at total of USD 51m. With the continues lack of catalyst in the market adding to this the opposition calls for massive protests on the 25th of Jan local investors continue to lower their exposure in the market, yet institutional investors managed to support the market targeting various blue chips benefiting from the recent price hits. TMGH managed to regain yesterday’s losses this came after TMG's appeals have been accepted and the court referred it to the Court of Subject Matter, which will study the case again and will, supposedly, issue a verdict on April 16th, 2013, the former ended the day up 2.52% to close at 4.47.

Investor mix:
•  Foreigners were net Buyers by 16.95 mn EGP and were 22.83% of the market.
•  Egyptians were net Sellers by 24.46 mn EGP and were 69.65% of the market.
•  Arabs were net Buyers by 7.51 mn EGP and were 7.53% of the market.
•  Institutions were net Buyers by 34.11 mn EGP and were 66.65% of the market.
•  Retail were net Sellers by 34.11 mn EGP and were 33.34% of the market.

Kenya: NSE 20 +1.76%, USD 8.0m

The equities market continued to see strong demand today especially among large cap counters. The NSE 20 index registered its largest 1 day gain +1.76% to close at 4553.25 points, levels last seen in 2010. The index has gained 10.5% in the past two weeks. Equity turnover climbed 31%, with foreign investors accounting for 54% of trades. EABL maintained its position as the day’s top mover accounting for 30% of trades. The counter climbed slightly 0.3% to KES 304, with foreign investors trading actively on both the sell and buy side. Safaricom gained 1.8% to KES 5.75 on strong foreign investor demand. Banking stocks KCB, Equity and NIC edged up 0.7%, 3.8% and 1.7% to close at KES 34.50, KES 27.25, KES 44.50 respectively, on strong local investor demand. Kengen sustained its momentum climbing further 9.6% to close at a new 12 month high of KES 12.60. Mumias reversed some of the losses made in previous sessions notching higher 6.1% to KES 5.25. Of the counters traded today 36 gained and only 5 declined. Losers today were on thin volumes.

Mauritius: Semdex -0.13%, USD 1.55m

Activity slowed down today but was still relatively decent with value traded amounting to USD 1.55m. MCB finally succumbed to some profit taking with the counter falling 0.55% to close at 180.00 albeit on lower volume than we have become accustomed to over the last few sessions. SBM however manged to put in a decent gain of 1.10% to close at 92.00 on rather thin volume of 36k shares with no real crosses to talk about. NMH was another counter that finally came under some pressure after a relentless rally with the hotelier falling 3.60% to close at 67.00.

Nigeria: ASI +1.37%, USD 31.07m

The bull run in Nigeria continues despite a slight retreat in the banks while the market maintains the high levels of turnover. The banking sector closed marginally in the red today with Skye Bank (-4.07%, N5.90), ETI (-1.85%, N11.64) and GTB (-1.76%, N25.10) the biggest losers in the sector while Diamond, Access, Fidelity and Stanbic showed modest gains. In the consumer sector, the most active names were NB and Unilever. Both these names closed in the red, NB -99bps, N150 and Unilever -2.50%, N42.90. On smaller volumes, the other consumer names were very strong, PZ and UACN both closing limit up while Flour Mills, Nestle, Cadbury and Dangote Sugar also had very strong days as demand for the sector continue.

South Africa: Top 40 -0.08%, USD 1.72bn

The JSE ended the day lower with the Top 40 Index falling 0.08% to close at 35,479 while value traded amounted to USD 1.72bn. Resources were the day's biggest losers with the Index falling 1.25% while Industrials and FInancials gained 0.47% and 0.31% respectively. The Rand was trading at 8.81 and 11.71 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE unch, USD 9k

Extremely quiet day in Lusaka with value traded amounting to USD 9k. The names that traded included CEC, SCZ, ZAMBREW, ZMBF, ZNCO and ZSUG. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 4.4k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 1.8k.

Zimbabwe: Ind +0.75%, Mining +1.23%, USD 3.39m

The industrial index extended its consecutive gaining sessions to ten after putting on +0.75% to 161.85pts with the highlights of the day coming from Econet, Seedco and Innscor. Econet hit a high of 506.1c a clear indication of the market’s pat on the back for them attaining 8 million subscribers. Seedco inched 3.01c higher to trade at 78.01 whilst Innscor had the lion’s share of trades with 1,712,954 shares trading and contributing $1.3m .The value of trades closed at $3.39m surpassing the outturn from yesterday by +88.74%. Volumes traded however declined by -44.16% to 4.67m units. Demand in Econet continued to increase and by close of call today it was +5.26% firmer at 506.01c whilst Seedco rose 4.07% to 77.01c. The duo of Afre and hotelier Afsun also recorded gains rising +4% and +3.53% to trade at 5.20c and 0.88c respectively. The resources index emerged stonger adding +1.23% or 0.89 at 73.14pts pushed up by gains in Bindura that advanced +5.26% to 2c. The other three counters did not record any trades on the board.

African Currencies