Banking sector dominates trading on DSE

Industrial and Allied segment on the Dar es Salaam Stock Exchange remained illiquid during last week’s trading session, accounting for only three per cent of the total market activity and 18 per cent of the turnover.

The low activity during the week compared to the previous period was contributed by the two public holidays—the farmer’s day on August 8 and Eid el fitr—that led to the bourse closure for two consecutive days.

The Tanzania Securities Limited (TSL) weekly market commentary shows that Swissport was the most active counter among the Industrial and Allied sector during the week, trading 10,363 shares at a share price of 2,240/-. Simba counter followed with 7,540 shares being transacted at 2,400/- each while TBL closed the week at 3,380/- per share, moving 5,720 shares.

Similarly, a total of 5,599 shares of Twiga cement changed hands at a price of 2,700/- while TCC moved 1,685 shares at 6,820/- . 

PAL counter moved 400 shares at 475/-, with TTP and TOL counters remaining dormant for the entire week. However, the banking sector continued to dominate the bourse, accounting for 97 per cent of the week’s total volume traded and 82 per cent of the market value.

Local investors dominated trading on CRDB counter which however lost by 5/- during the week. The counter traded 1,050,506 shares at 320/-. 

However, the effect of the lost on the Indices was offset by the gains made on TCC and TBL Counters. The Banking Segment Index weakened to settle at 2,070.78 points from 2.084.77 points in the previous week while the Industrial and Allied Index improved to 2,075.33 points from last week’s 2,063.09 points.

NMB counter transacted 10,993 shares at the price of 1,740/-. Generally, the trading activity was relatively lower with the week-on-week turnover slipping to 489m/-, equivalent to 44.7 per cent down from 879m/- of the previous session.

Activity slowed to 1,180,106 shares, a decline of 12.2 per cent compared to 1,344,490 shares exchanged hands previously. Both indices, the Dar es Salaam Stock Exchange All Share Index and Tanzania Share Index (DSEI and TSI) edged north.

The DSEI moved by 0.02 per cent to close at 1,611.48 points while TSI moved by 0.77 per cent to settle at 1,962.61 points, mainly driven by gains on TBL and TCC counters that gained by 40/- and 20/-, respectively.

“As the liquidity continues to improve, activities are expected to pickup in the coming week with the support from both local and foreign investors,” remarked Ms Brenda Massay, the TSI market analyst.
Source: The Daily News, reported by Sebastian Mrindoko from Dar es Salaam,Tanzania
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