Data set released by Stockbrokers Botswana this week indicates that while the P793.7 million in turnover represented a 133 percent increase on the first quarter, trading activities were dominated by selling pressure leading to a deceleration in the exchange's overall growth."The Botswana equity market lost some steam in the second quarter of 2013," Stockbrokers Botswana researchers said in their quarterly Fund Managers' Companion.After an 11.9 percent incline at the close of the first quarter of the year, the Domestic Companies Index merely managed a meagre 3.4 percent quarter-on-quarter increase in the second quarter which brought the year-to-date change to 15.7 percent".Of the total P793.7 million in turnover, about 77 percent was attributable to just five counters, with First National Bank Botswana (FNBB) alone contributing P209.8 million. The other high turnover counters included Letshego, Choppies, FSG and BIHL.
In terms of volumes, of the 232.5 million shares which exchanged hands in the second quarter, Letshego and FNBB were the most liquid contributing 81 million and 58 million shares respectively to overall volumes.Analysis of Stockbrokers' Companion indicates that during the second quarter, while financial and retail counters largely dominated the BSE's volumes and values, this was not reflected in returns. Most financial counters declared their year-end and interim towards the end of the first quarter and into the second quarter.Stockbrokers' research shows for the second quarter, the biggest gainer was ABC Holdings whose share price rose 25 percent, followed by funeral giant, FSG with 22.4 percent, diamond producer Lucara with 22 percent as well as sole IT counter, RPC Data with 20 percent. The IT firm has since halted trade as it prepares a management buy-out.
