Companies’ profits spark DSE trading

Activities boomed on the Dar es Salaam Stock Exchange (DSE) as financial results for most listed companies trickled in, with the tiny bourse’s weekly turnover rising to 1.12bn/- from the previous week’s 672m/-.

According to Tanzania Securities Limited’s (TSL) weekly market commentary, the number of shares traded stood at 2,229,238 against the 1,243,543 stocks that exchanged hands previously.

“The Tanzania Share Index (TSI) gained 0.84 per cent to end the week at 1,226.19 points while the All Share Index (DSEI) gained 0.20 per cent to settle at 1,442.38 points,” stated the market report. 

Overall, the market’s performance was pushed up by NMB counter with a 2.15 per cent high, SWISSPORT counter 11.67 per cent up, TWIGA counter 1.63 per cent as well as Precision Air Services (PAL) counter 6.82 per cent gain.

“We expect this attraction to continue through the coming week,” commented Mr Moremi Marwa, the analyst and TSL Chief Executive Officer. During the week under review, listed banks were very active and liquid than commercial and industrial firms. 

Of the total turnover, banks contributed 85 per cent, accounting for 74 per cent of the trade volume compared to only 26 per cent of the listed industrial firms.

The CRDB was relatively active but encountered 2.27 per cent drop of its share price to close the week at 107.5/- per share, further down from a weekly low of 110/-. NMB shares recovered 2.15 per cent of their value to end the week at 950/- per share, accounting for 52 per cent of market value for the week.

The continued counter’s good performance may be attributed to local support resulting from its recently published strong 2012 second quarter financial performance. 

Twiga and Simba were the most active counters among the indices of the listed industrial firms as they continued to enjoy local support.
 
A total of 36,662 shares of Twiga were traded at 2,460/- per share, while 15,000 shares of Simba exchanged hands at 2,380/- each during the week but TBL lost 0.78 per cent of share price to end at 2,560/- per share. 

The TBL counter was almost inactive during the week as it traded only 11,823 shares. 
Source: The Daily News,http://www.dailynews.co.tz, reported by Sebastian Mrindoko
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