Dar bourse business dips as activities slow

Trading activities at the Dar es Salaam Stock Exchange slowed last week dipping the bourse’s performance even as some counters relatively gained.

Activity levels slowed to 1,268,660 shares – a sharp decline (-119 per cent) compared to last week’s performance where 16,395,155 shares changed hands.

The turnover slipped to Sh451million compared to Sh1.976 billion recorded last week, about 75 per cent fall. As the market experienced a sluggish performance last week, some counters ended the week with gains in their respective share prices.

NMB bank closed the market last Monday at Sh960 per share and closed the same at Sh1,000 on Friday while CRDB bank began the week at Sh115 and closed it at Sh118 last Friday. 

Tanzania Cigarette Company (TCC) share price also moved from Sh3,860 on Monday to Sh4,020 on Friday while Tanzania Oxygen Ltd (TOL) gained from Sh220 to Sh240 a share in the same period and managed to trade 250,000 shares.

“We expect the market to maintain low to medium activity levels. There are signs of a continual improvement of liquidity levels in the market and therefore we anticipate investors to continue coming into the market,” predicts the weekly commentary of Tanzania Securities Ltd.

“We envisage a sustained foreign investors’ demand on the banking counters, especially NMB and CRDB,” it adds.

Precision Air (PAL) counter saw an activity for the first time in weeks and it traded 2,900 shares at Sh470 per share.

Simba and Swissport counters remained flat with 5,705 shares and 5,042 shares respectively. Tatepa counter transacted the least 100 shares  this week.

TBL was again on the top with a turnover of Sh70 million up from Sh23 million recorded a week earlier. The counter remained flat last week by ending at the same price as the week earlier at Sh2,620 per share.

Twiga Cement was the second with 11,725 shares at Sh2,500 each.

DCB bank counter did not have any activity during the week as it was for the week earlier and TSL attributes the situation to “investors suspiciously waiting for the counters corporate action (re- Rights Issue) and Q3 financial results.”

Source: The Citizen, http://www.thecitizen.co.tz, reported by Alawi Masare

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