Dar bourse business go up 75 per cent

Despite weaker performance in turnover, business at the Dar es Salaam Stock Exchange (DSE) increased by 75 per cent to 2,047,679 shares last week compared to 1,170,110 which changed hands in the previous session.

The turnovers, according to the Tanzania Securities Limited (TSL) weekly commentary, declined to 538m/- from 860m/- with indices edging further up towards the end of the period under review.

The Dar es Salaam Stock Exchange All Share Index (DSEI) ended the week at 1,492.17 points, while the Tanzania Share Index (TSI) settled at 1,458.11 points supported by gains in TBL and NMB counters.

“There are signs of a continual improvement of liquidity levels in the market.

It is anticipated that investors will continue coming in the market as the year rolls-on with envisaged demand on the banking counters, especially NMB and CRDB,” remarked the TSL report.

During the week, foreign investors accounted 56 per cent of the week’s turnover. Banking segment Index strengthened by 0.47 per cent to close at 1,232.47 points on the backdrop of a gain posted on the NMB counter, a 1.79 per cent. 

Similarly, the Industrial and Allied Index increased from previous week, supported by TBL 7.14 per cent gain.

The segment closed at 1,732.73, 3.11 per cent increase. However, CRDB counter lost 2/50, a 1.47 per cent decline to end the week at 167/50. During the period, banks accounted for 76 per cent of the market value and 98 per cent of the week’s total volume traded.

The CRDB Bank accounted for 79 per cent of the banking index market value for the week; however, the counter did not maintain its gain from the previous period. The counter held both local and foreign support by 93 per cent of its market value.

NMB continued with the positivity momentum in price. During the week, the counter gained by 1.79 per cent to close at 1,140/-. 

TBL counter was on the lead this week on the Industrial and Allied segment generating a turnover of 72m/-from 24,038 shares that exchanged hands to settle at 3,000/- per share.

Twiga counter transacted 16,159 shares with its price remaining flat. Simba traded 6,541 shares at 2,400/- per share. 

Swissport counter saw some minimal activity during the week, 660 shares transacted with its price closing the week at 1,720/- per share.

The TCC had 500 shares transacted at 4,300/-. Other counters traded during the week were TTP and TOL traded 900 and 200 shares respectively with flat prices.

Source: The Daily News, www.dailynews,co.tz, reported by Sebastian Mrindoko in Dar es Salaam

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