Thursday, April 25, 2024

Letshego leads weekly gains as DCI slightly moves up 

The Domestic Companies Index (DCI) of the Botswana Stock Exchange saw a slight increase of 0.09 percent by the week ending on March 22, 2024. Letshego, a pan-African financier, emerged as the top gainer of the week, gaining two thebe to reach a closing price of 125 thebe following the release of its 2023 financials. Despite a gain its share price, Letshego last week reported a massive P149 million loss, a stark contrast to the P352 million profit in the prior comparable period. This is the first time Letshego reported a loss in more than a decade

Conversely, Primetime, a property giant, experienced a loss of three thebe, closing at 170 thebe during the week under review. 

On the other hand, the Foreign Companies Index (FCI) maintained its level, closing the week at 2472.89 points, while the Domestic Company Total Return Index (DCTRI) saw a marginal increase of 0.09 percent, reaching 2817.63 points by the week’s end. Trading activity during the week amounted to 26,597,892 securities valued at P122,712,904.

Meanwhile the BSE’s equity market performance report covering January to February 29 showcased interesting trends. The DCI and DCTRI demonstrated modest appreciation, rising by 0.9 percent and 1.0 percent, respectively, compared to the same period in 2023. However, the FCI experienced a slight depreciation of 0.01 percent, in contrast to the previous year’s slight appreciation.

Analyzing individual company performances, Botswana Diamonds (BOD) emerged as the top gainer among the 32 listed companies, with a significant growth of 6.7 percent, while Far Property Company (FPC) faced challenges, recording the largest decline of 24.7 percent.

Moreover, during the initial two months of 2024, Sechaba, CA Sales, and Turnstar dominated trading, accounting for 83.1 percent of total equity turnover. Institutional investors played a major role in equity turnover, contributing 92.1 percent for local companies and 4.6 percent for foreign companies, highlighting their significant influence in the market.

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