Movers & Shakers: March 13, 2013

Botswana: DCI +0.01%, USD 132k

Better day today but still rather dull as value traded amounted to USD 132k thanks mostly to Letlole. Market breadth was very thin while the market closed slightly higher with the DCI gaining 0.01% to close at 8,076.32.

Egypt: EGX 30 -1.61% USD 45m

The market witnessed notable selling today lead buy institutional investors (international), leaving the EGX30 to end the day down 1.61% to close at 5317.63 points. Market volumes remains weak yet with a slight improvement to recent turnovers, the market traded a total turnover of USD 45m. The market witnessed notable profit booking lead mainly from international institutions targeting names such as TMGH, OCIC, and ESRS, each ending the day down 2.65%, 2.53% and 2.29% respectively, yet local retail investors ended the day as strong buyers benefiting from the various price hits targeting high beta stocks such as AIND, RAYA and OTMT each ending the day up 4.00%, 3.61% and 1.32% respectively. It’s worth mentioning that local institutions started the day as aggressive sellers, yet they ended the day as buyers. JUFO managed to continue with its bullish momentum, the name was one of the few names ending the day in the greens, to end up 1.01% on above average volumes.

Investor mix:
•  Foreigners were net Sellers by 55.68 mn EGP and were 28.94% of the market.
•  Egyptians were net Buyers by 46.98 mn EGP and were 64.09% of the market.
•  Arabs were net Buyers by 8.69 mn EGP and were 6.97% of the market.
•  Institutions were net Sellers by 51.83 mn EGP and were 42.30% of the market.
•  Retail were net Buyers by 51.83 mn EGP and were 57.69% of the market.

Kenya: NSE 20 -1.49%, USD 12.1m

The equities market witnessed profit taking across most counters following a rally witnessed in previous sessions. The NSE 20 index pulled back 1.49% to 4,911.45 points, with 15 of the counters traded gaining, 30 declining and the rest remaining unchanged. Equity turnover eased 12.4%, with foreign investor participation slipping to 45% of trades compared to 56% in the previous session. Equity Bank (-6%) and ARM(-0.7%) were the days top movers, collectively accounting for 40% of the days volumes with foreign investors providing most of the supply on the counters. Of the top mover foreign investors were net buyers in KCB (-1.2%), Safaricom and EABL (-0.3%) . Banking stocks led the top losers list today with NIC Bank, Housing Finance, Equity Bank, and CFC Stanbic shaving off 7.1%, 6.3%, 6% 5.8% to KES 52.0, KES 22.25, KES 31.50 and KES 57 respectively. Top gainers today were on thin volumes.

Mauritius: Semdex +0.38%, USD 1.44m

Rather active day today after yesterday's public holiday with value traded amounting to USD 1.44m. MCB led from the front yet again interms of both activity and performance as foreigners continue to drive the price higher, the name gained 0.92% to close at 192.50. SBM managed to follow it's major competitor higher and gained 0.98% to close at 1.03. NMH put in a solid performance with the hotelier gaining 1.39%.

Nigeria: ASI +0.02%, USD 20.66m

Rather quiet in Lagos today as value traded amounted to a subdued $20.66m while the ASI was flat, gaining 0.02% as most investors seemed to sit on the sidelines. Banks were however strong with the Bank10 Index gaining 1.12% thanks to UBA rallying a very impressive 9.76% as investors speculate ahead of results. There was some profit taking in consumer stocks after a good run yesterday with the Consumer Goods Index falling 0.91%. Cadbury however managed to buck the trend and rally 5.00% to close at 34.86. It was the ususal supsects Guaranty Bank and Zenith Bank that led activity while UBA was also a big contributor on the day.

South Africa: Top 40 -0.13%, USD 1.91bn

The JSE ended the day lower with the Top 40 Index falling 0.13% to close at 36,328 while value traded amounted to USD 1.91bn. Financials were the day's biggest losers with the Index falling 0.72% followed by Resources which fell 0.32% while Industrials gained 0.26%. The Rand was trading at 9.25 and 11.97 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.35%, USD 6.8k

Absolutely dire day in Lusaka with value traded amounting to a paltry USD 6.8k. There is unfortunately hardly anything to report when the market is so quiet.

Zimbabwe: Inudsutrials -0.18%, Mining unch, USD 2.34m

Losses in selected market heavyweights saw the mainstream industrial index shed 0.34pts (0.18%) to close at 187.49pts. The value of trades for the day was subdued declining -17.7% to $2.34m despite a 243% surge in the volume of trades to 40.01m shares. Foreign participation remained buoyant for the day with foreign sales growing 62% to $1.7m while purchases saw a -3.5% drop to $2.0m leaving the balance of payments in a net inflow. The mining index was unchanged at 68.12 points as all constituent stocks remained at previous trading levels.

African Currencies