Botswana Market Watch | May 18th 2015: Botswana stocks kicked off on a slower pace

Gaborone, Botswana (Capital Markets in Africa):- Botswana stock exchange kicked off the week on a slower pace as reflected by the relatively thin trades (volume of 63,472 and total turnover of BWP 130,467) and market capitalization recorded at BWP 381.192 billion. Only 11 counters exchanged hands with only 2 movers. The domestic composite index took a deep breath from its bull run as it shed 1.52 points to close at 10,392.98 points while the foreign composite index remained flat to end at 1,596.16 points.

RDC Properties Limited Botswana advanced by BWP 0.01 trading at BWP 2.30 as investors priced in their intentions to tap in the residential space and its recent FY results where the group realized a 23% increase in rental revenues. The property outfit is expected to host its Annual General Meeting later this week. On the other hand, PrimeTime Property Holdings notched down by BWP 0.01 to close the session at BWP 2.74. However, the property company stated in a circular that it has entered into an agreement with Time Projects to develop a new building on the Pilane plot which was estimated at an investment cost of about BWP 96.8 million

On the currency market, the Pula was firmer against most of its major trading peers but weakened relative to the euro.