DCI Starts 2009 On Positive Note

Impressive gains in financial giant FNBB and some middle capitalised counters such as PrimeTime and FSG catapulted the DCI to a strong start. On the other hand, the FCI finished the first trading week of the year in the red, following losses in African Copper and DiamonEx. According to the Weekly Financial Report by Motswedi Securities, the year 2009 is likely going to be more challenging than 2008 as most sectors of the economy are expected to contract as a result of the global financial downturn, especially the mining sector.

"However, in spite of this, we believe the current prices of most stocks on the local bourse provide investors with a good opportunity to increase their holdings on the market," says analyst Garry Juma.