(3 Minutes Read)
The Botswana Stock Exchange (BSE) records a significant surge in 2023, with its Domestic Companies Index (DCI) drawing attention for its robust performance. By mid-year, the DCI had recorded a rise of 15.4%, touching levels unseen since 2013, when the year-end performance peaked at 17.8%. This surge marked a decade-high milestone for the BSE, reflecting a period of economic vitality for Botswana’s stock market.
The Botswana Stock Exchange (BSE) records a significant surge in 2023, with its Domestic Companies Index (DCI) drawing attention for its robust performance. By mid-year, the DCI had recorded a rise of 15.4%, touching levels unseen since 2013, when the year-end performance peaked at 17.8%. This surge marked a decade-high milestone for the BSE, reflecting a period of economic vitality for Botswana’s stock market.
The BSE Sensex and NSE Nifty 50 both experienced an upward trend, with the Nifty 50 nearing its record high. The domestically-focused mid-caps and small-caps also witnessed gains. Indian benchmark indexes showed a 6.5% gain in December, bolstered by strong domestic macroeconomic data, a return of foreign inflows, and a moderation in oil prices.
The market exhibited optimism regarding the Federal Reserve’s potential interest rate cuts in the coming year. Individual stocks like Larsen & Toubro reached an all-time high, and SJVN won a 100-megawatt solar power project. Overall, the sentiment was positive, and December is typically a strong month for the markets.
Various companies, including Mish Designs Limited, Suzlon Group, Adani Energy Solutions, and Larsen & Toubro Ltd, made significant announcements or developments. Adani Green Energy Ltd completed a joint venture with TotalEnergies involving the transfer of a 1,050 MW renewable energy portfolio. Adani Energy Solutions Ltd was awarded the Letter of Intent for the acquisition of Halvad Transmission Ltd, a special purpose vehicle set up for the evacuation of 7 GW of renewable energy from the Khavda RE Park.
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The BSE in 2023 marks a period of robust economic vitality for Botswana’s stock market. The year’s end serves as a time for reflection on successes and challenges, emphasizing the importance of introspection within the industry. As Botswana’s leading independent news source, Mmegi continues to provide a range of content, from breaking news and current affairs to politics, business, sports, debates, analysis, and entertainment.
