Dar’s share index maintains upward trend

The Tanzania Share Index (TSI) has continued with its upward trend since the beginning of the year, going up by 12.7 per cent to reach 1612.36 points.

The TSI actual has overtaken the Dar es Salaam Stock Exchange all share Index (DSEI), which has been increasing at a snail pace in the last three months after gaining by just 2.89 per cent to 1528.65 points.

The DSEI slow trend was pegged to little movements of either direction from the cross-listed stocks, mostly from Nairobi Stock Exchange (NSE).

Tanzania Securities Chief Executive Officer Mr Moremi Marwa said the local stocks continue to appreciate as a result of limited portfolio investment on the tiny bourse.

“Since the listing of Precision Air in (about three years ago) no new product has been listed at the bourse,” Mr Marwa told the ‘Daily News’ yesterday.

The high demand against few investment opportunities available pushed up stock prices to all time high. In return almost all firms’ share prices appreciated in the last three months, with the exception of TOL Gases that stagnated at 260/-, while DCB bank and TBL depreciated to 600/- and 2,980/-, respectively, as of last Tuesday.

TCC is the most appreciative share since January after going up by 38.57 per cent to 5,820/-, followed by CRDB bank by 26.78 per cent to 177/50, Swissport by 26,74 per cent to 2,180/- and TaTePa by 20 per cent to 480/- as per Tuesday.

Source: The Daily News, www.dailynews.co.tz, reported by Abduel Elinaza in Dar es Salaam

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