Dar bourse recovers from Monday's 'hangover'

Dar es Salaam Stock Exchange (DSE) indices on Tuesday made a quick gain after sliding from Monday blues, in what termed by traders as starting a week on a wrong foot.

The bourse indices gained dearly and recover the loses it experienced on the previous day, after Tanzania share Index (TSI) jumped up by 32.19 points to settle the day at 1212.43 points to record seven days higher mark.

The DSE all share Index (DSEI) closed the session after appreciated by 7.61 points to 1439.12 points. 

The DSE daily market report attributed the indices gain to TBL, CDRB Bank and National Microfinance Bank (NMB) share prices gain.

TBL share gained by 7.02 per cent and closed the day at 2440/- a stock, CRDB share jumped by 2.50 per cent to 123/- a piece and NMB share climbed by 3.23 per cent to settle at 960/- a stock.  

On Monday, however, the bourse opened the week badly after slumped in average by over 5 per cent, pulled down by declining of shares prices of the three companies. 

DSEI had dropped by 2.09 points to close the day at 1431.51 points while TSI suffered a heavy blow slip to 1180.23 points after losing 8.82 points in a single trading, pushed down by sliding of CRDB, Twiga Cement and TBL.

According to the report, CRDB shares, which its prices fluctuated mostly in the recently past, saw its prices declined by 2.44 per cent to close at 120/- a stock. This is merely hours after it appreciated last week to 123/- a piece. 

TBL was the second hit after its shares closed the session at 2280/- being a drop of 1.6 per cent. The brewer stock gained last Friday by 20/- to 2300/- to loss again on the same amount yesterday.

Twiga, the manufacture of Portland cement, which in the recently past experienced a price gain, its share decreased by 0.87 per cent to 2400/-.

CRDB and TBL share prices in the recently days have been fluctuating mostly because the market is glutted with the two firms’ stocks to suppress down its share prices.
Source: tzexchange.blogspot.com
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