Trading at DSE up last week

Trading at the Dar es Salaam bourse made further improvement last week recording a turnover of 628m/-, a 267 per cent increase compared to the previous period with only 171m/-.

Shares traded also increased to 597,174, a 312 per cent rise.According to the Tanzania Securities Limited (TSL) weekly commentary, the positive performance was backed by gains in the Tanzania Breweries Limited (TBL) by 1.4 per cent and the National Microfinance Bank (NMB) by 13.6 per cent.

The TBL and NMB trading activities at the bourse pushed up the Tanzania Share Index (TSI) settling at 1,272.41, a 1.0 per cent increase while the Dar es Salaam Stock Exchange All Share Index (DSEI) closed at 1,334.49, a 2.2 per cent."TBL was fairly stable aided by books closure Friday last week where the counter traded during the period under review on the ride of dividends announcement of 200/- per share," stated the market report.

The TBL closed the year on March 2012, anticipation of the full year earnings were in play during the week's trading on the counter. The first is expected to replicate the strong first half performance underpinned by contribution from efforts made following the expansion in the Mbeya plant.

During the week under review, TBL traded 56,049 shares at prices ranging from 2,760/-to 2,800/-,  the report showed.NMB registered substantial interest from investors backed by its 2011 good performance expectations of dividends announcement.

"Attention is still expected on banks in anticipation for the first quarter results," commented Mr Moremi Marwa, the TSL Chief Executive Officer.He said NMB and DCB will keep riding on sustained local support as investors' anticipate dividend announcements on the counters. Equally, a come back of foreign investors may be witnessed due to NMB good performance posted in the 2011 financial year.

During the period under review, banks accounted for 81 per cent of the week's total volume traded and 60 per cent of the market value,explained the report. However, activity lag is expected in the coming week as most of the counters had their books' closure during the period.

Twiga Cement had 27,439 shares traded at 2,400/- per share, while Swissport had 25,790 shares traded at 1,000/- per share. The counters recorded significant local support as investors' book gains in dividends.

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

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