Foreign investors push up DSE business

Foreign investors' participation at the Dar es Salaam Stock Exchange (DSE) made the market to remain bullish closing the week impressively.

According to the Tanzania Securities Limited (TSL) weekly turnover increased significantly to about 4.12tri/-, a 644 per cent high from 553m/- transacted in the previous period. Similarly, shares traded rose to 3,059,921, equivalent to 139 per cent from 1,282,211 stocks changed hands previous week.

"Foreign participation was on support of the banking counters particularly the NMB and CRDB to record a market participation of 12.1 per cent during the period under review accounting for 76 per cent of the counter's market share," stated the TSL report.

The Dar es Salaam Stock Exchange all Share Index (DSEI) closed at 4.24 points, a 0.29 per cent higher at 1,437.84 points buoyed by gains in listed industrial firms, 2.8 per cent segment.

The Tanzania Share Index (TSI) was significantly upbeat to close the week at 1,206.99 points, up by 17.94 points, equivalent to 1.51 per cent. Foreign investors' participation was 12 per cent supporting the two banking counters with CRDB 1,010,000 stocks and NMB 90,121 shares.

Despite foreign support on the counters, the listed banks ended the week flat at 122.50/- per share for CRDB and 930/- for NMB. During the week, CRDB counter moved a volume of 1,333,593, which is 29 per cent compared to previous dealing with 1,028,650 shares that changed hands in the counter.

There were no activities in the DCB counter during the week. The bank's capitalisation of dividends from last year for expansion purpose has so far failed to motivate dividend driven investors. Twiga and TBL were the most active counters among the listed manufacturing firms. TBL maintained heavy local support to close the week at 2,440/- per share 2,380/-.

The counter moved a volume of 1,337,711 supported by strong local institutional investors' demands while Twiga had 207,187 shares which changed hands during the week at 2,420/-. 

There were very minimal activities on Simba, Swissport, TOL and TCC counters while there were no activities in the Precision Air Limited and TATEPA counters.

Source: The Daily News,http://www.dailynews.co.tz, reported by Sebastian Mrindoko

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