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DSE activities to rise on TBL, Twiga shares

THE activities of Dar es Salaam Stock Exchange (DSE) are tipped to increase this week driven mainly by shares movement of TBL and Twiga Cement.

The analysts have it that the activities, turnover and volume, are expected to surge this week as Covid-19 cases kept on declining, globally.

Tanzania Securities said yesterday that they anticipate local investors to dominate the bourse and stock market recovery since the pandemic curve seems to be flattening globally.

“In the industrial and allied segment, TPCC [Twiga] and TBL is anticipated to remain active [this] week,” Tanzania Securities said in its weekly market blast.

The brokerage firm said the DSE and CRDB anticipated to maintained their activeness albert with lower volatility.

“…The banking, finance, and investment segment DSE and CRDB will maintain their activeness in the market with the lower volatility in their share prices,” Tanzania Securities said.

As the Covid-19 cases keep declining the local investors anticipated to activate the market performance to be maintained by the active local counters in terms of volume, turnover, and price movements in the bourse.

DSE turnover, despite growing by 22 folds to 317.05m/-for a week ending last Friday, are at the lowest in the recent history of the exchange.

The turnover growth was pushed up by an off-market transaction on the TBL counter.

Orbit Securities said foreign participation was still minimal accounting for 94.6per cent of divestments while locals accounted for 99.57 per cent of investments.

“Foreign investors sold a block of TBL while local investors bought the block,” Orbit said in its weekly market synopsis yesterday.

The five TBL’s off-market blocks transactions that took place on Thursday, worth 300m/-were enough to make the country’s top brewer the top mover of the week.

It accounted for 95per cent of the total equity turnover realized during the week.

NBC Tanzania bank has been ...

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Author: ABDUEL ELINAZA

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