Dar es Salaam bourse trading slows

Trading at the Dar es Salaam bourse were last week dropped by 179 per cent with only 798,809 shares changing hands compared to 2,229,238 during the previous market.

The Tanzania Securities Limited (TSL) weekly market commentary shows that total turnover during the period under review dropped compared to the previous period.
During the week, foreigners who have been making the trading activities active some weeks back accounted for only one per cent of the total turnover. 

However, all stocks closed the week up with all segments ending in the greens. For example, the listed banks gained 0.75 per cent while industrial firms were up by 0.69 per cent.

The outstanding performances pushed up all share index (DSEI) gained 0.13 per cent higher to 1444.32 points and Tanzania share index (TSI) closed 0.67 per cent higher at 1,234.39 points.In the period under review, activity in the banking counters was very active and liquid than the rest contributing 78 per cent of the total turnover.

Similarly, banking volume of trade reached 96 per cent leaving only 4 per cent for listed industrial companies. The NMB had 366,273 shares transacted at an average price of 960/-, though the counter readjusted towards the end of the week to close at 950/-. Most of the trade was between local investors.

CRDB maintained its rally for most of the period, however, the counter pulled back at the end of the week to settle at 110/-, equivalent to 2.3 per cent. 

TBL was the most active counter among industrial sector after gaining 1.56 per cent of its share price this week to end at 2,600/- each. The counter had 23,419 shares, 98 per cent increment from 11,823 shares changing hands in the counter last week.
Meanwhile, Twiga traded 45,440 shares while Simba had 14,850 shares.

Swissport had 1,162 shares, a 114 per cent increment from last week's 541 shares which traded at 1,340/- each.According to the TSL report, activity will remain modest in the banking sector next week as the reporting season wraps-up.

Foreign participation will equally be weak as most stay away for the summer vacation."However, we expect Tanga Cement, Simba Cement and TCC counters to remain bullish ahead of the financial year results to be announced  soon," noted the report.

Twiga Cement counter is expected to report strong earnings backed by strong gains made in the construction and housing sector. TCC will also continue to rise on its strong prospects, equally with Simba Cement that continues to receive support in anticipation for results.
Source: The Daily News,http://www.dailynews.co.tz, reported by Sebastian Mrindoko
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