Dar bourse activities to slowdown as the year ends

Trading at the Dar bourse is expected to slowdown in the coming weeks because most of the local investors are planning for annual leave and holidays as well as end of the year obligations.

“The decline of market performance during end of year period which is viewed as stock market weakness could be regarded as a buying opportunity” said Mr Raphael Masumbuko, Zan Securities Limited Chief Executive Officer in the weekly market wrap ups.

During this period, turnover improved a marginal of three per cent to 1.86bn/- despite notable decline in the banks, Finance and Investment 1.07 per cent, Industrial and Allied 1.89 per cent and Commercial Services 0.42 per cent sectors.

NMB dropped by 2.9 per cent to 2540/- from 2560/-, CRDB by 1.7 per cent to 290/- from 295/- while TBL lost by 2.9 per cent to 8000/- from 8240/-.

The scenario helped to push the market into negative territory for the week by directing All Shares Index (DSEI) downward 3.97 per cent to 1,863.34 and Tanzania Share Index (TSI) the same direction 1.58 per cent to 2,844.51. The most active counter during the week was CRDB, NMB and TBL.

There were no any other notable gainers and most of cross listed equities recorded declining trend. CRDB counter was mainly supported by foreign investors to trade 4,175,409 shares. TBL was the most active counter among the Industrial and Allied segments.

The counter maintained local support to transact 39,765 shares at price of 6,400/-, 7,360/-, 8,180/- and 8,240/- per share. Swissport had 2,099 shares at 2,700/- and Twiga traded 603 shares at 2,680/- per share.

Precision followed with 500 shares traded at 475/-, while 100 Simba shares transacted at 2,340/- per share. TOL traded 100 shares at 310/- per share, whereas TCC transacted only 100 shares at a price of 8,600/-. There were no activities on the TATEPA counter.

Foreign participation in the week increased by 36 per cent to 878m/- while local participation decreased by more than 15 per cent to 986.67m/-.

Total market capitalisation decreased by 3.97 per cent to 16.49tri/- while domestic market capitalisation decreased by 1.58 per cent to 5.98tri/- compared to a week before.

Source: Daily News, reported from Dar es Salaam, Tanzania

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