The Botswana Stock Exchange (BSE) has today 22nd October 2024, traded P412 Million in total market turnover which is the highest single day turnover on the BSE so far in 2024.
This comprises of trades across almost all the counters on the Main and Ventures Boards, as well as Exchange Traded Funds (ETFs), and constitutes sixty transactions in total.
Commenting on this, the Acting CEO, Kopano Bolokwe remarked, “As we highlighted in the BSE Market Performance Report for January to September 2024, we are experiencing a trend where firstly all the stocks and instruments are being transacted, and then secondly the number of transactions continue to rise. This is very crucial when it comes to growing the liquidity of instruments on the BSE, because this then results in the ability of investors to move more easily in and out of instruments, lower price volatility, improved price discovery and more reflective price information.”
Bolokwe added that, “When liquidity increases, the BSE becomes attractive to potential issuers and investors and this translates into a greater ability to attract even more international issuers and investors. In the process, our economy as a whole would benefit with companies being increasingly able to access capital from a diverse pool of investors at a reasonable cost, subsequently increasing investment in their businesses and driving increased employment and their overall contribution to the economy”.
The trades were mainly on account of institutional portfolio rebalancing and ordinary market transactions. Prior to today, the largest single day trades recorded this year, which were trades of over P100 Million in a day, were P119 Million on 20 March 2024 and P112 Million on 30 January 2024.
