Equity Trading: BTCL takes the lead

BTCL outperforms for a second week in a row. The telecommunications company has enjoyed an amazing following the release of their interim results in December, moving 19 thebe higher in just less 6 weeks.

The stock gained 5 thebe to close the week at P1.05 a share and has been the best performing stock for the year, having appreciated by 7.1% year to date. Demand for the stock remains high giving further support to the current rally, the momentum of which we expect will carry into the next few weeks.

BTCL was the most traded stock

The majority of the issued shares still remain in the hands of retail clients (citizens) and institutional buyers will struggle to fill their large positions as quickly as they may have wished.

Turnstar Properties traded 5 thebe higher as well, recovering all loses sustained in the previous trading week. The 1.6% positive price movement saw the stock close the week at P3.25 per share, unchanged for the current year. Property stocks are off to a good start following last year’s good performance as NAP pocketed a thebe to close back at P2.95 a share, a 12 month high.

Choppies picked up a thebe week to close at P2.41, retreating from a weekly high of P2.42 a share, while BIHL continues to trade in sideways, pocketing the thebe it lost last week to end the week at P17.55 a share.

Sefalana was the week’s biggest loser as the market continues to consolidate following the dilutive effect of the December rights issue. The company issued over 27.8 million shares to raise funds for two transactions in Lesotho and South-Africa as it expands its foot priced.

The price took a 4 thebe knock to close at P12.95 per share. FNBB and the banking sector at large continue under pressure from a growing number of retrenchments, job losses and company closures and ended the week a thebe lower at P2.95 per share.

The gains outweighed the losses for the week, and helped DCI end its rout, which spilled over from last year. The domestic company index moved higher by 0.19% to close the week at 9,407.54 and 0.07% higher since the year began. The Foreign company index on the other hand remains rooted at 1,585.76, with Magnum as the only traded counter on the foreign board. (Motswedi Securities)