Business turnover at Dar es Salaam bourse drops

The turnover at the Dar es Salaam bourse dropped 275 per cent to to reach 220m/- compared to 826m/- recorded last week.

The Tanzania Securities Limited (TSL) weekly market commentary show that total volumes transacted during the period under review shrunk to 462,775 shares compared to 852,884 shares last week. 

But the Dar es Salaam Stock Exchange All Share Index (DSEI) gained by 0.02 per cent to 1,457.84 points compared to 1,290.59 points of the last dealing.

Likewise, the Tanzania Share Index (TSI) closed higher at 1,291.57, a 0.08 per cent increase that ended up at 1,457.61 points. The rise was mainly driven by TATEPA and Swissport that closed the week in green. TATEPA ended the week positively with a gain of 7.69 per cent at 350/- per share while Swissport gained to 1,460, equivalent to 5.80 per cent.

Other counters remained flat throughout the week. The banking stocks remained flat even though the sector’s activities were relatively active. It moved 51 per cent of the market turnover and 90 per cent of the total volume changed hands during the period under review.

CRDB shares were transacted at 117.50 each and 1,000/- for NMB shares. During the week, CRDB counter moved 346,212 shares, 12 per cent decline compared to 395,603 shares which changed hands on the counter last week. Foreign investors maintained top buying position accounting for 78 per cent of the counter’s market share.

NMB accounted for 17 of the banking activity and 63 per cent of the market turnover for the week. Activities in the counter were backed by a continued strong local support. Like the case in recent weeks, Twiga, TBL were also the most active counters among the industrial and allied segment.

TBL maintained local support to close the week at 2,620/- per share, moving a volume of 13,717 stocks. Twiga had 25,804 shares changing hands at 2,500/- per share. There were no activities in the Precision Air Limited and TTC counters.

“We expect activity in the market to strengthen on selected counters. There are still speculations on TBL and the banking segment counters as investors anticipate the first 2012 half and third quarter results respectively.
Source: The Daily News,http://www.dailynews.co.tz, reported by Sebastian Mrindoko in Dar es Salaam
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