DSE activities fall as festive season draws near

The Dar es Salaam Stock Exchange (DSE) activities have recorded a subpar performance affected by Christmas and New Year holidays.

The bourse performance increased by 4.0 per cent to 1.2bn/-as foreign participation decreased in what was termed as investors’ pulled by the end of the year holidays obligations.

Vertex International Securities said in its weekly market review that the increase in volume and turnover was not enough to overcome negative price movement last week to let the equities market post unsatisfactory performance.

“We think this [was] due to a decline in foreign investors’ activity as we approach the year-end, and we do not expect any huge performance improvement this week,” Vertex said over the weekend.

The stock brokerage firm, however, said “We forecast a slight recovery of prices”.

In the first week of this holidays months, the bourse posted a turnover of 1.2bn/-, 4 per cent higher than the previous week’s 1.14bn/-. While foreign participation in buying and selling was almost zero except on Wednesday when selling clocked 35.15 per cent.

On the other hand, Orbit Securities said in its weekly market synopsis that both benchmark indices closed last in the red. The All-Share Index shed 3.64 points and the Tanzania Share Index trimmed 11.68 points.

“Several counters played a major role in pulling down the indices,’ Orbit said, “the major culprits included cross-listed stocks such as KCB which closed the week 1.4per cent down and Jubilee Holdings’ (JHL) share price dropped by 0.54 per cent.”

Total market capitalisation, last week, decreased by 0.19 per cent to 15.572tri/- while domestic market capitalisation decreased by 0.30 per cent to 10.202tri/-.

TOL was a top gaining share last week by 7.69 per cent to 700/- followed by CRDB, which gained 1.32 per cent to 385/-.

Simba Cement lost 6.78 per cent to close last week at 1,100/-, followed by TICL which went down by 5.88 per cent to 160/-, and NMB dropped 2.67 per cent to 2,920/-.

CRDB was a top market mover recording 76.72 per cent of total market turnover followed by NMB with 10.18 per cent and TPCC with 7.05 per cent.

Banks, Finance and Investment (BI) closed at 3286.75 points, 1.06per cent down. Industrial and Allied (IA) and Commercial Services (CS) posted a slight decline of 0.04 per cent each to close at 5,023.30 points and 2,147.73 points, respectively.

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