Simba's stock up, drives indices north

The Dar es Salaam Stock Exchange (DSE) indices today edged upwards as a result of price increase of TBL and Simba Cement stocks.

Both TBL and Simba share prices went up by 20/- to close the day at 2,060/- and 2,400/- respectively.

According to the Tanzania Securities Daily Market report, DSE all share index (DSEI) gained 0.81 points to close at 1,301.42 points while Tanzania Share Index (TSI) gained 3.41 points to close at 1,132.58 points.

Despite the stock prices appreciation, brokers are predicting a low to medium level of activities as the results of “decrease in yields of money market instruments.’

Tanga Cement Plant--the manufacture of Simba Cement

Tanzania Securities Business Analyst Joel Nkya said the other factor that might slow down the bourse activities was “investors trying to take advantage of the awaited dividends.”

DSE is a dividend driven bourse which its fluctuation mainly depending on the dividends. 

Sources: tzexchange.blogspot.com

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