DSE performance jumps over 600%

Trading activities improved rapidly at the Dar es Salaam Stock Exchange (DSE) last week, thanks to a strong support from both foreign and local investors, courtesy of high liquidity levels in the economy.

Market turnover went up by 636 per cent as the number of traded shares picked up by 816 per cent.

“Due to high liquidity in the economy, activities are expected to pick up and the support from both local and foreign investors will play a part,’’ said an analyst from Tanzania Securities Limited.

The market report shows that the total turnover surged to Sh3.5 billion last week from 10,812,170 shares traded. This was a significant jump compared to a week before when there was a total turnover of Sh484.75 million from 1, 180,106 shares transacted.

Local investors accounted for 65.2 per cent of the total turnover. They bought massively into shares for both the banking as well as for the industrial and allied sectors.

Their foreign counterparts contributed 34.8 per cent to the total turnover. They bought shares from CRDB and DCB.

Both indices (DSEI and TSI) edged south. The All Shares Index depressed by 0.2 per cent to close at 1,606.96 points while Tanzania Share Index dropped by 0.97 per cent and settled at 1,943.53points

The Banking Segment Index weakened to settle at 1,999.67 points from 2,070.78 points in the previous week while the Industrial & Allied Index improved to2,088.17 points compared to 2,075.33 points of the week before.
Source: The Citizen, reported by Vainess Mollel, from Dar es Salaam, Tanzania

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