DCI slows down in Jan, Feb :: Mmegi Online

The Botswana Stock Exchange’s (BSE) main platform, the Domestic Companies Index (DCI), retreated by 0.3 percent in the first two months of the year, compared to growth of 1.9 percent in the corresponding period last year, as some counters shed value in the period.

Between January and February 28, Choppies’ share price retreated by seven percent, whilst Letshego shed 5.6 percent, pushing the DCI down. In an update, BSE officials said only a few domestic counters, such as Absa (+0.1 percent), Turnstar (+0.5 percent), and Botswana Telecommunications Corporation Limited (plus nine percent), showed positive growth, but their gains were not enough to offset losses from the weaker performers, hence the slight drop in the DCI.

BTCL, the only listed telecomms group, has enjoyed a stellar performance on the exchange in recent times and is currently trading at levels last seen in 2017. The retail-investor-heavy counter closed at P1.46 on Wednesday, shy of its all-time high of P1.85, reached on December 22, 2017.

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