Foreigners dominate trading on Dar bourse

Foreign investors dominated trading activities on the Dar es Salaam Stock Exchange (DSE) last week, contributing 99 per cent of the market turnover that jumped to 3.64bn/-, up from the previous week’s 885m/-.

The volume of shares that changed hands also rose significantly to 5,761,627, over three times of the 1,756,759 shares transacted in the preceding week. According to Tanzania Securities weekly market commentary, the increase in turnover and volume was supported by TBL and CRDB counters which recorded 2bn/- and 715m/-, respectively.

However, both indices closed in red with the tiny stock market All Share Index (DSEI) settling at 1,524.77 points, a 0.18 per cent fall while Tanzania Share Index (TSI) had 1,595.97 points, a 0.74 per cent decline.

The banking segment Index strengthened to settle at 1,431.64 points, which is 2.51 per cent up from 1,396.65 points at close of the period under review. The Industrial and Allied Index weakened to 1,845.20 points from the previous period’s 1,891.47 points, dipping down by 2.45 per cent mainly due to the fall on TBL and TTP counters that lost by 0.65 per cent and four per cent, respectively.

During the period under review, the banking sector was active and liquid, moving 84 per cent of total market transactions and 31 per cent of total turnover. Foreign investors’ participation on the banking industry was 15 per cent of the week’s turnover supporting the CRDB counter.

The counter moved 3,866,707 shares, a 295 per cent rise from the previous period’s 1,309,227 stocks which changed hands. The NMB accounted for six per cent of the banking segment, maintaining its share price at 1,340/- and moving 63,404 shares compared to 318,318 stocks of the preceding period.

TBL and Twiga were the most active counters in the industrial and allied sector. TBL had local support to close the week at 3,100/- per share, higher than the previous 3,080/-. The counter moved 805,749 shares as compared to the previous week’s 4,744.

TOL, the manufacturer of hospital and industrial gas, had 32,046 shares changing hands during the week at 260/- per share. Twiga counter traded 30,077 shares at 2,620/- per share while TTP counter had 15,000 shares traded at 480/- each.

Cement manufacturer’s Simba counter traded 28,262 shares to close the week with its price gaining from last week’s2,400/- to 2, 420/- during end of the week. SWISSPORT moved 1,032 shares at 1, 940/- each.

Source: The Daily News, www.dailynews.co.tz, reported from Dar es Salaam

Share on Google Plus

About Unknown

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.