The SEMDEX opened the second quarter positively, gaining 0.5% to close at 2,162.37, and extending its upward trend for the 13th consecutive session. Several bluechip stocks saw notable gains, led once again by MCBG, which rose by 1.0% to MUR 378.75 on 23.5k shares traded.
Other prominent gainers included CIEL (+6.6% to MUR 7.70), ROGERS (+1.5% to MUR 33.00), ASCENCIA (+1.1% to MUR 18.20), MEDINE (+1.4% to MUR 52.50), and TERRA (+0.2% to MUR 23.00).
On the other hand, SBMH took a breather after Friday's rally, declining 3.8% to MUR 5.00. ALTEO (-0.4%) and IBL (-0.3%) were also among the losers.
Trading activity was low, with a total value traded of MUR 20.8m with MCBG and SBMH accounting for 43% and 20% of the total turnover, respectively.
International Markets
In observance of Good Friday, major stock markets across the Americas and Europe were closed on Friday.
Japan's NIKKEI 225 rose 0.5% on Friday, recouping some of the previous session's losses. This positive performance was driven by strength in chip-related stocks, with Tokyo Electron increasing 0.8% and Advantest gaining 1.9%.
Mainland Chinese stocks closed higher on Friday, extending gains from the previous day. Optimism stemmed from evidence of state-backed buying, with a mutual fund disclosure revealing purchases by state investor Central Huijin in bluechip funds to support the market.
Regional Markets
Egypt's benchmark EGX 30 extended its losing streak to a fourth session on Sunday, closing down 2.5% to its lowest level in more than two months. Losses were widespread, with E-Finance and Eastern Co experiencing significant drops of 6.6% and 6.1% respectively.
FX & Commodities
The US Dollar barely reacted to the release of key inflation data and remained mostly flat due to limited trading activity with many markets closed for Good Friday.
The Commerce Department reported that core PCE prices, which exclude food and energy, rose by 2.8% from the previous year, easing slightly from the upwardly revised 2.9% increase in January, and consistent with market expectations.