DSE records poor trading week

The Dar es Salaam Stock Exchange (DSE) has recorded a downward swing week with both indices, DSE all share index (DSEI) and Tanzania Share Index (TSI) surged down.

The DSEI slipped 0.05 per cent to 1,322.84, while the TSI dropped by 0.21 per cent to settle at 1,222.08 – pulled down by the CRDB share that loss by -1.9 per cent to 125/-.  

Week-on-week turnover slipped to 424m/- equals to 74 per cent from last week turnover of 1.65bn/-.

On activity levels slipped by 61 per cent to 817,235 shares – a sharp week-on-week fall over last week’s performance of 2,071,876 shares.

Tanzania Securities weekly report issued on Friday says “This week, liquidity was spread across various sectors (banking sector being the most active). This week, foreign investors did not participate,”  

The Industrial and Allied (IA) index maintained its last week’s performance of 1,500.20 points. The Banking, Finance & Investment (BI) index (-0.72%) on the other hand, lost seven points to end the week at 961.57.

The report projected the bourse to improve in the week ahead as institutional investors coming into the market on the buy side in the near term.

Tanzania Securities continue to expect a sustained foreign investors’ demand both on the banking counters (a particular focus will be on NMB and CRDB, on undervaluation ride) and the industrial. 

Source: tzexchange.blogspot.com

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