BSE takes a beating

Local companies on the Botswana Stock Exchange took a beating on their share prices last week, with Standard Chartered Bank Botswana sinking to its lowest point in more than 11 years, over the course of a single day’s trade. By last Monday, the BSE’s Domestic Companies Index had shed 1.3 percent for the year, a resilient performance when compared to the massive losses in other African and global stock exchanges due to the impact of the coronavirus. However, by Friday, the DCI, which is the exchange’s main platform, moved its year-to-date losses to 2.1 percent, as the limited trades on the local exchange turned negative for several listed companies. First National Bank Botswana, the country’s largest bank by balance sheet, lost five thebe on Friday and another five thebe on Monday, as investors continued to cash out to manage the coronavirus impact.