Tanzania: DSE bearish trend continues

The Dar es Salaam Stock Exchange (DSE) total market turnover experienced a decrease by 15.77 percent to 1.86bn/- compared to the previous week that recorded 2.21bn/- with three local listed stocks emerging as top traded equities.

According to Zan Securities Limited Weekly Wrap-Ups the Tanzania Breweries Ltd (TBL), Tanzania Portland Cement Company Ltd (TPCC) and CRDB Bank emerged as top traded equities contributing 78.09 percent, 6.07 percent and 4.65 percent respectively.

During the week under review, TBL and Tanzania Oxygen Ltd emerged as the top gainers within local listed companies. TBL stock price appreciated by 40/- or 0.29 percent, closing the week at 13,830/- per share.

TOL share price increased by 15/- or 1.72 percent closing at 885/-. CRDB Bank Plc and Swissport Tanzania Ltd emerged as the top losers within local listed companies.

CRDB and Swissport decreased by 10/- or 2.56 percent and 150/- or 2.05 percent respectively. Total market capitalisation experienced an increase by 0.62 percent compared to last week, closing at 21.40tri/- while Domestic market capitalisation experienced a decrease by 0.43 percent closing the week at 8.40tri/-.

Comparatively, key benchmark indices were both in the green and red territory with the Tanzania Share Index (TSI) capped at 3,942.69 points, lower by 0.44 percent compared with 3,959.93 points posted last week.

The All Share Index (DSEI) closed at 2,443.17 points, up by 0.63 percent compared with previous week closing at 2,427.98 points. Similarly, the three sector indices closed the week in both the green and red territory.

Industrial and Allied experienced an increase, closing at 5,257.93 points up by 0.01 percent compared to the previous week at 5,257.60 points.

Banks, Finance and Investment Index experienced a decrease by 1.52 percent to close at 2,603.08 points compared to last week at 2,643.20 points.

Commercial Services Sector experienced an increase by 1.60 percent to close the week at 3,869.53 points compared to last week at 3,932 points.

There is expectation for the moderate market activities based on speculative motive in Banks, Finance and Investment and Industrial and Allied counters.

Source: Daily News, reported from Dar es Salaam, Tanzania

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