Local BSE firms up P900m in Q1

Mbongeni Mguni | Wednesday April 17, 2024 11:11

Home of capital: The BSE is currently headquartered at Fairscape Precinct, while it builds its own multi-million Pula offices in the CBD PIC MORERI SEJAKGOMO

According to figures provided by the BSE last week, the share prices of DCI firms gained a net 1.9% between January and March this year, compared to a growth of three percent over the same period last year.

The P914 million growth in market value in the first quarter of this year compares to an increase of about P1.2 billion over the same period in 2023. BSE figures show that companies leading the gains in share prices in the first quarter of this year include Standard Chartered, First National Bank Botswana (FNBB) and Letlole la Rona, while those weighing down the DCI, included Far Property Company, PrimeTime and the Botswana Telecommunications Corporation. In terms of turnover, or the value of shares traded during the period, Sechaba led the pack with P132.2 million in trades, followed by CA Sales with P69.1 million) and FNBB with P36.9 million.

The BSE’s turnover in the first quarter was measured at P393.7 million compared to P273.5 million over the corresponding period last year, indicating more activity on the local exchange. Institutional investors were the biggest contributors to equity turnover with contributions of 93.2% and 3.2% for local companies and foreign companies respectively.