Botswana Market Watch | May 26th 2015: Botswana equity index continued to head northwards

Gaborone, Botswana (Capital Markets in Africa):- The Botswana domestic composite index continued to head northwards, gaining 0.01 percent (to close at 10,457.26 point) to extend its year-to-date growth by 10.06 percent. However, the foreign composite index remained flat to close at 1,569 points and year-to-date return is still in the red, reflecting the depressed international commodity market. The equity market capitalization was recorded at BWP 381.455 billion.

Looking at the market activity; the total volume and total turnover were recorded at 2.811 million (a decrease of 83 percent compared to previous trading sessions) and BWP 22.719 million (a decrease of 59 percent) respectively exchanging 16 securities of 34 listed companies. SEFALANA, BARCLAYS Bank Botswana, FIRST NATIONAL BANK Botswana and LETSHEGO were the top mover in term of volume recoding 801,943, 708,100 498,071 and 419,000 traded shares respectively. While BOTSWANA INSURANCE HOLDINGS LIMITED GROUP (BIHL) and LETSHEGO recorded highest turnover of 9.311 million and BWP 1.443 million respectively.

Looking at the price movers, BIHL rebounded to trade back at its 12 month high of 1315thebe. The insurance giant has gained 14 percent on a year to date. On the property space, LETLOLE and PRIMETIME edged up by BWP 0.02 apiece, trading at BWP 2.20 and BWP 2.78 respectively. Meanwhile Wilderness posted a 2 session winning streak as investors responded to their fantastic results where the group registered a huge 57 percent increase in profit after tax. On the losing end, LETSHEGO softened by BWP 0.01 to end the session at BWP 3.49.

On the currency market, the Botswana Pula softened against the US Dollar but gained ground relative to the South African Rand, Euro and Japanese Yen.