Botswana Market Watch | May 20th 2015: Botswana stocks on uptrend

Gaborone, Botswana (Capital Markets in Africa):- The Botswana domestic composite index kept its upward impetus by gaining 46.45 point (0.45 percent) to extended its year to date gains by almost 10% ending with 10,443.37 points.  While the foreign composite index remained flat to close at 1,569 points. The equity market capitalization was recorded at BWP 381.325 billion.

Looking at market activity, the total volume and total turnover were recorded at 4.091 million  and BWP 29.855 million respectively.  BIHL GROUP recorded the highest volume and turnover at 1.53 million and BWP 20.041 million respectively. BARCLAYS BANK Botswana, LETSHEGO, First National Bank Botswana, and CHOPPIES traded shares were 1.065 million, 886,653, 605,000 and 1,800 respectively. There are no trading activities on all the ETFs at end of today’s trading sessions.

From the mover perspective, there are three gainers of which BIHL GROUP led the rally as it surged by BWP 0.09 to settle at a new 12 month high of BWP 113.10. The insurance giant which lost about 30% of its mandate; from the asset management division, has advanced by 14% for the year thus far. On the banking space, First National Bank Botswana pocketed BWP 0.03 to close t BWP 3.85 while Barclays Bank Botswana ended the session at BWP 4.10 after gaining BWP 0.02. The latter realized a 16% increase in PAT despite a 2% decline in net interest income, for their year end results. On the other hand, the former which has the largest loan book of BWP 12.7 billion registered an 11 percent growth in non interest income for their HY results.

On the currency market, the Pula shed ground against the dollar and rand but retreated relative to the euro, pound and yen.