DSE weekly turnover shoots up

Dar es Salaam Stock Exchange’s (DSE) week-on-week turnover increased by 211 per cent to 995m/-, pushing up the market indices.

The DSE all share index (DSEI) closed the week, appreciating by 0.28 per cent at 1,441.33 points while the Tanzania Share Index (TSI) ended the week at 1,221.76 points.

According to the Weekly Commentary by Tanzania Securities, foreigners dominated the market, accounting for 79 per cent of the turnover and 42 per cent of the market activity.

“We anticipate similar activities in the coming week because of increased support on the banking counters,” a market analyst, Mr Magabe Maasa said on the commentary.

Mr Maasa said support on Industrial and Allied segment will be a combination of both dividend expectations and earnings-driven while the banking counters will be backed by earnings expectations.

The report attributed last week’s increase in turnover and activity mainly to support by TBL that accounted for 81 per cent of the market turnover and 33 per cent of the week’s activity.

Earning expectations on the Bank, Finance and Investment Sector (BI) saw NMB counter continuing with its gaining streak. The counter edged up to close the six months at 940/-, the 36-month record high.

During the week, CRDB counter saw its share price dropping from 125/- to 120/-. There were minimal activities in the DCB counter during the week and its share stagnated at 640/-per share.

Industrial and Allied Sector (IA), profit taking expectation saw TBL continue to be the most active counters among the IA index. TBL gained to Close the week at 2,500/- per share.  Swissport shares closed the week session at 1,160/- which is a record high since listed at the bourse.
Source: The Daily News, http://dailynews.co.tz,reported by Abduel Elinaza
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