Business decline at Dar bourse

Business at the Dar es Salaam Stock Exchange (DSE) declined last week with a turnover levels of 989m/- compared to 2.98bn/- of the previous session.

Despite the fall, banks continued their dominance, accounting for 91per cent of the market value and 98 per cent of the week’s total volume traded mainly on the backdrop of support from foreign investors on CRDB and NMB counters.

Foreign investors supported the counter by 74 per cent of the market value. According to the Tanzania Securities Limited (TSL) weekly market commentary, NMB remained flat and maintained its last week price of 1,420/- per share. The counter moved a volume of 18,748 shares during the week.

CRDB moved a volume of 4,830,098 shares, significantly lower compared to 15,248,089 shares that changed hands in the counter last week. “We expect continued activities on the banking segment, particularly on the CRDB and NMB counters. NMB will announce its dividend payout next week,” noted Ms Upendo Lyatuu, an analyst with TSL.

During the week, volume of shares traded dropped to 4,950,690 shares from 15,337,840 shares of the preceding period. On the positive side, during the week the market continued with the recovery and rally with modest gains for both Dar es Salaam Stock Exchange All Share Index (DSEI) and the Tanzania Share Index (TSI).

The DSEI closed 0.12 per cent higher at 1,535.66 points while the TSI ended the week at 1,642.01 points, equivalent to 0.46 per cent supported by the increase of TBL and TCC by 40/- on both counters. Foreign investors accounted for 76 per cent of the turnover particularly from the purchases of CRDB and NMB shares.

The TOL was the most active counter among the Industrial and Allied segment during the week moving 78,000 shares at the price of 260/-. Similarly, a total of 10,616 shares of Twiga changed hands at 2640/- while TBL moved 6,970 shares to end the week at 3,060/-.

Simba traded 3,100 shares at 3,420/- and TCC transacted 2,210 shares at 5,940/-.Swissport and TTP counters did not participate on this week activities.
Source: The Daily News, reported from Dar es Salaam
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