NAP pushes BSE to historic daily gains

BSE Chief Executive Officer Thapelo Tsheole (Source BSE Facebook page)
BSE Chief Executive Officer Thapelo Tsheole (Source BSE Facebook page)

NAP rocked the market this week with a P457.27 million record breaking deal. The property company, which boasts Riverwalk Mall amongst its holdings, traded over 156 million shares on Wednesday (June 15, 2016), the biggest trade on one stock on the BSE. In the process the stock leaped 13 thebe up, to close the week 10.6% on a ytd basis, the largest move this week. Turnstar, another property giant also bagged an a cool 4 thebe for the week to mark 3 weeks of consecutive gains, as it closed at P3.24 a share.

The life insurance company in the country, BIHL continued on its upward momentum, gaining 9 thebe for the week, bring its year to date gains to 8.2%. Wilderness safaris and Letshego also edged up, gaining 5 thebe and 2 thebe respectfully. The week was also marked with some profit taking as investors capitalised on the recent surge in mining stocks, with Lucara Diamonds trading down P2.68 ahead of its biggest diamond sale at the end of the month. BOD was another casualty shedding 3 thebe for the week to close at 31t per share.

Standard Chartered Bank continued its losing track, falling 25t to end the week at P8.50. The bank has seen some disinvestment following last year’s poor financial results. The newly listed BTCL lost 4 thebe for the week after trading steadily at P1.14 for a while. Its closing price of P1.10, marks a return of 10% in 11 weeks of trading.

G4S and Primetime both lost a thebe on thin trades, while the domestic company index continued to fall by 5 basis points, trading 4.1 % lower than at the start of the year, while the FCI edged town to close at 1594.61. (Motswedi Securities)