The SEMDEX closed the day unchanged at 2,149.39, with trading activity particularly concentrated on MCBG.
MCBG recorded a 0.7% increase to MUR 375.50 on 93.9k shares traded, representing 64% of total market turnover while SBMH declined 0.6% to MUR 4.81 on around 817k shares traded.
Hotel stocks saw mixed results, with SUN seeing a 1.2% increase to MUR 42.50, while NMH fell by 0.5% to MUR 10.55, and LUX remained unchanged at MUR53.00.
Notable declines were observed in IBL (-1.2% to MUR 43.00), ENL (-1.8% to MUR 19.70), ALTEO (-2.4% to MUR 9.64), and MUA (-1.1% to MUR 88.00). In contrast, MEDINE saw a 1.9% increase to MUR 53.50, while GAMMA rose by 0.3% to MUR 36.60.
International Markets
US equities closed sharply lower on Monday after an initial lift from positive retail sales data and strong Goldman Sachs earnings was dampened by a rise in Treasury yields and growing concerns about geopolitical tensions in the Middle East. In corporate news, Apple's smartphone shipments fell 10% in the first quarter of 2024, leading to Samsung securing the top global phone maker position.
Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that U.S. President Joe Biden described as “unprecedented”, stoking fears of a broader regional conflict.
European markets displayed a mixed performance on Monday despite heightened geopolitical tensions. The broader STOXX 600 index closed slightly higher, but individual markets diverged. Germany and France closed higher, while UK markets ended the day in negative territory.
Asia-Pacific markets were mostly negative on Monday as traders assessed the impact of the Iranian attack on Israel. Japan's NIKKEI 225 fell 0.7%, and South Korea's KOSPI dipped 0.4%. China's CSI 300 index stood out, surging over 2% for its biggest one-day gain since early February.
Regional Markets
Nigeria's stock market fell further on Monday, extending its losing streak to a seventh straight session. The decline was driven by losses in major Tier-One banking stocks, including GTCO, FBN Holdings, Zenith Bank, and Access Corporation.
Kenyan stocks started the week with marginal movement as gains in heavyweight Safaricom were countered by losses in several banking stocks.
FX & Commodities
The US dollar strengthened further on Monday, fuelled by positive retail sales data and rising geopolitical tensions. The Japanese yen, meanwhile, breached the 154 mark against the US Dollar, falling to its weakest level since June 1990.
Gold prices advanced on Monday, driven by safe haven buying amid escalating tensions in the Middle East. This increase came despite a strengthening US dollar and rising Treasury yields.