DSE week-on-week turnover doubles

Week-on-week turnover has almost doubled at the Dar es Salaam Stock Exchange (DSE) in the last seven days.

According to the Weekly Market Commentary, a review of trading at the bourse issued by private broking firm, Tanzania Securities, it moved to 999m/- compared to 506m/- recorded the previous week.

In the week under review, it indicates that 58 per cent of the turnover was attributed to  foreign investors. This led to shares going up to 4,370,620 (+447.6) from last week’s 798,809 shares.

“The week’s increase in turnover and volume was mainly supported by TOL Gases Ltd counter that accounted for 33 per cent of the total turnover and 34 per cent of the week’s volume,” notes the commentary.

It added that indices edged up with both the Dar es Salaam Stock Exchange All Share Index (DSEI) and Tanzania Share Index (TSI) ending the week in the green.

The DSEI ended the week 0.33 per cent  higher at 1,449.11 points while TSI closed at 1,254.67 points (+1.64 per cent). This was  supported by gains made in the NMB (+5.26 per cent ), CRDB (+6.84 per cent ) and Simba counter that gained by 0.84 per cent.

It shows that other counters remained flat all through the week. Foreign investors participated significantly by 585m/- (58 per cent) of the total week’s turnover.

Tanzania Portland Cement Company Ltd (Twiga) posted revenue of 127bn/-, an increase of 19 per cent net profit increase by 12 per cent.Twiga announced an interim dividend of 50/- per share as it closed the week at 2,500/00 per share.

Simba recorded an increase revenue to 123 bn/-, a 24 per cent increase from 2011 as the company cites the increase in sales volume from exports.

“The company’s recorded 17bn/- in net profit, an increase of 56 per cent compared to thefirst six months of last year. 

Simba announced an interim dividend of 45/- per share as CRDB managed to counter reverse its losing streak to record significant gains this week, “it notes

Some 2,298,001 shares exchanged hands in the counter (+494 per cent) compared to last week where only 387,096 shares were traded.The counter saw a significant foreign investors’ support that accounted for 52 per cent (1,200,000 shares) of the counter’s activity.

Generally, the banking sector moved a significant volume of shares during the week compared to the industrial and allied sector. The banking sector posted 58 per cent of the week activity as the industrial and allied sector  chalked  42 per cent.

This week, the government through the Bank of Tanzania (Bot) auctioned Treasury bills worth 110bn/-. Bids submitted were valued at 162bn/- but the successful applications only got 96bn/-. 

Yields eased down furthermore in all maturities except for the 182 days where there was a slight increase of 0.12 per cent.

Source: The Daily News,www.dailynews.co.tz , reported by Orton Kiishweko 

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