Positive sentiment returns to stock market

Following a bearish streak at the end of 2012 induced by the festive season's profit taking, the benchmark Domestic Companies Index (DCI) last week powered on a positive 0.17 percent on the back of early momentum gained by blue chip performers such as Choppies and Letshego. While it is still early to judge the underlying market fundamentals for the year, last week's rejuvenated appetite for shares, which carried over into this week, points to renewed confidence levels among investors.

 For the week, a total 26 counters were active, with nine advancing counters and three declining, albeit on thin volumes. The market experienced a total exchange of 894,218 shares worth approximately P1.71million for the week's session, overshadowed by the previous session exchange of P3.36 million shares worth P6.7million. Most shares dealt on, were of property developers, Letlole, exchanging 343,600 shares worth about half a million Pula.