Dar es Salaam bourse trading posts positive trend

The Dar es Salaam Stock Exchange (DSE) was relatively vibrant last week, recording a total turnover of 826m/-, equivalent to 83 per cent compared to 451m/- of the previous trading.

The weekly market commentary by the Tanzania Securities Limited (TSL) shows that indices remained flat for the whole week with the Tanzania Share Index (TSI) ending the period under review at 1,457.61 points while All Share Index (DSEI) settled at 1,290.59 points.

“However, activity levels slowed down, 852,884 shares were transacted. This was down by 48 per cent from last week’s 1,268,660 shares which exchanged hands,” stated the report. 

CRDB counter stole the show with a trade volume of 522,394 shares, followed by the Tanzania Breweries Limited (TBL) which sold 216,173 shares.

About 93 per cent of the TBL turnover and activity was a result of foreign support on the counter at a premium of 7 per cent above the market price. The segment of the listed banks closed positive during the period under review on the backdrop of a 67 per cent of the total market activity and 11 per cent of the turnover transacted during the week.

Out of the 569,045 shares, CRDB counter which was buoyed by foreign investors’ participation moved 92 per cent of the volume. NMB contributed 8 per cent of the banking segment’s volume. The industrial segment especially TBL and Simba were the most active counters among the Industrial and Allied segment during the week.

TBL counter enjoyed major support from foreign investors. About 51,650 shares of Simba exchanged hands at a price of 2,420/- per share during the period under review. Twiga had 14,129 shares, trading at 2,500/- per piece. TCC too, had some activities this week as it traded 1,386 shares at a price of 4,020/- per share while Swissport was almost inactive transacting 501 shares at 1,380/- per piece.

“We expect the equity market to continue experiencing enthusiasm as liquidity improves in the circulation and more investment flow into the bourse to take advantage of the strengthening fundamentals in the economy and the market,” stated the report. 

Speculative activities in the banking segment are expected in a few weeks time as they will be reporting the third quarter results.

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

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