"Large volumes were observed in large capitalised counters such as FNBB, Barclays, BIHL and Stanchart during the week under review as more money continue to find its way into the market. For example, a total of 385,068 shares, worth around P1 million exchanged hands in FNBB, Barclays had 120,576 shares worth P839,000 while BIHL and Stanchart had P674,000 and P314,400 worth of shares swapping hands during the week in retrospect," said a market report from Motswedi Securities .

Heavyweight stocks were the major movers, much to the delight of investors who threw caution to the wind by taking risks through buying the stocks when they were still sitting on their 52-week lows. Barclays was the biggest mover during the week on the Domestic Main Board, pushing on 4.2 percent to 700 thebe - a 35 percent growth from a 52-week low of 520 thebe. Micro-lender Letshego was next in line up 2.5 percent to 1,455 thebe on increased buying. The counter recently released a pleasing set of interim results and the current upward movement of the stock is factoring in the good returns. At the current price, Letshego has risen by 47 percent, from a 52-week low of 990 thebe. 

"Not to be outdone was financial giant FNBB - the biggest stock on the Domestic Main Board by market capitalisation, which rebounded to 270 thebe - a 42 percent growth from a 12-month low of 190 thebe. Other gains were in Chobe, FSG, Imara and Turnstar. FSG continue to shine, moving to a new all time high of 147 thebe.

The funeral services provider (FSG) has since risen by 47 percent since its initial listing in October last year following the launch of a 'private cemetery' called the Phomolong Memorial Park about two months ago, which is expected to contribute significantly towards the group's earnings," said Motswedi.

On the foreign board, African Diamonds was the star performer. It had a stellar performance during the week, bagging P1.50 to close the week at P5 in response to the recent announcement that it intends to increase its stake in AK6 from 29 percent to 40 percent following a decision by De Beers to off-load its entire investment in the project.

However, despite the 42 percent jump by African Diamonds, the Foreign Companies Index (FCI) still traded slightly on the negative. This is because African Copper and A-Cap Resources registered some losses resulting in the foreign index remaining relatively flat.

Imara has been on the rise since releasing a cautionary statement advising investors to exercise caution when dealing in the company's shares as it is involved in some negotiations, which might have a material effect on its stocks. Reflecting these upward movements, the Domestic Equity Main Board Market Capitalisation ended the week at P29.3 billion, an improvement from P28.9 billion from the previous week