Dar bourse registers low trade

Trading activities at the Dar es Salaam Stock Exchange (DSE) lost ground slightly for the second week in a row despite the participation of foreigners.

The Tanzania Securities Limited (TSL) weekly market commentary noted that the weekly turnover stood at 202m/-, which is 76 per cent decline compared to the previous performance of 847m/-.

“Activity levels were also down with shares traded declining to 375,995/-, an 81 per cent down,” stated the market report.

Last week both the Dar es Salaam Stock Exchange all share index (DSEI) and the

Tanzania Share Index (TSI) surged downward.

The DSEI slightly dropped to 1,326.75, which is a 0.04 per cent decline while TSI settled at 1,241.97, a 0.18 per cent fall.

Most counters remained flat with the exception of CRDB, that edged downward by 1.8 per cent to close the week at 137.50/-, explained the report.

The counters continued to record significant local support as investors’ book gained in dividends.

CRDB on the other hand, lost 1.8 per cent of its value, an indication that investors are probably still concerned with the dividends policy and its recent decision to write off non-performing assets of about 50bn/- as part of the books cleaning exercise.

In a pre-arranged trade of 228,234 Tatepa (TTP) shares, foreign investors participated during the week

In the trading sessions, banks accounted for 20 per cent of the week’s total volume traded and 24 per cent of the market value.

The NMB accounted for more than half, 61 per cent of banks’ activities for the week as it also continued to hold on the gains it made in previous weeks.

During the week, investors were still holding on NMB in anticipation of its dividends announcement.

The TBL maintained last week’s levels as investors sat on the sidelines waiting for 2011/12 financial results and probably dividend announcements.

The counter traded only 210 shares during the period under review. Twiga Cement had 20,801 shares traded at 2,400/- per shares, while Swissport had 20,800 shares traded at 1, 000/- each.

“We expect the focus to remain on the banks buoyed by first quarter anticipated results and dividends announcements for the year 2011. Also more activity is anticipated on NMB and DCB,” noted the Mr Magabe Maasa, the TSL analyst.

Source: The Daily News,http://www.dailynews.co.tz, reported by Sebastian Mrindoko

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