Tanzania: Dar bourse extends bearish run

The Dar es Salaam Stock Exchange (DSE) last week experienced a decrease in total turnover, closing at 2.41bn/- from 6.4bn/- of the previous period, which is 62 per cent lower.

CRDB Bank and Swissport were the top traded equities contributing to 40.18 per cent and 36.28 per cent, of the week’s total turnover respectively, according to Zan Securities Limited Weekly Wrap-ups. 

Swissport and Tanzania Breweries Ltd (TBL) emerged as the top gainers dominating the price movement within local listed companies.

Similarly, Swissport experienced a 100/- or 1.33 per cent increase per share, to close at 7,600/- per share while TBL experienced a 100/- or 0.66 per cent increase per share, closing at 15,200/- per share.

For the cross-listed companies, East African Breweries Ltd (EABL) and Acacia Mining Plc (ACA) emerged as the top gainers dominating the price movement. 

The EABL experienced a 390/- or 6.81 per cent increase per share, to close at 6,120/- per share. ACA experienced a 290/- or 3.68 per cent increase per share, closing at 8,170/- per share.

Comparatively, key benchmark indices were in the green and red territory during the period under review with the Tanzania Share Index (TSI) capped at 4,649.20 points, lower by 0.03 per cent compared with 4,650.42 points posted previously.

Three sector indices closed both in green and red territory with the Industrial and Allied experiencing an increase, closing at 6,290.74 points up by 0.37 per cent compared to previous week that ended at 6,267.25 points.

Banks, Finance and Investment Index experienced a decreased by 1.38 per cent to close at 2,994.37 points compared to last week closing at 3,036.34 points. 

Commercial Services Sector experienced an increase by 1.04 per cent to close at 4,057.90 points compared to last week closing at 4,016.04 points. The All Share Index (DSEI) closed at 2,552.49 points, higher by 2.18 per cent compared with last weeks closing at 2,498.01 points.

The total market capitalization experienced upward trend by 2.12 per cent compared to the previous week closing at 22.34tri/-. Domestic market capitalization experienced a decrease by 0.08 per cent to close the week at 9.84bn/-.

There is expectation for the market to recover with high demand on Industrial and Allied sector attributed by foreign investors to give the market prices and volume a lift.
Source: Daily News, reported from Dar es Salaam, Tanzania
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