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The Dar bourse remains active despite decline in DSEI

Weekly outlook

DURING the week, the market closed lower after downward movement in DSEI mainly due to decline in share price of Kenyan listed companies.

The total market size decreased by 159.24bn/- while the domestic market slightly increased by 13.06bn/- during the week thanks to increased CRDB share price by 3.70 per cent.

In the coming week, we anticipate improvement in the stock market performance particularly improvement in share prices and turnover as market recoup and as foreigner’s comeback in the market.

The market performance to be maintained by the active local counters in terms of volume, turnover, and price movements in the bourse.

In the industrial and allied segment, TPCC and TBL is anticipated to remain active during the week while in the banking, Finance, and Investment segment DSE, NICOL and CRDB will maintain their activeness in the market with the lower volatility in their share prices.

While in the commercial services industry Swissport is expected to remain active with limited expectations on the price movement.

In midweek we expect 15 years Treasury bond auction to be held by the central bank. We may see oversubscription of the Treasury bill due to the higher appetite for government securities.

Furthermore, the Government securities yield curve may continue to remain normal, and weighted average yields are expected to decline, this indicates low funding cost by the government.

In the interbank money market, notwithstanding the decrease in the weighted average rate (WAR) during the previous week, we still anticipate that WAR to be within a range of 4.00 per cent to 5.00 per cent with slight volatility in the high and low rate.

The Bourse

Total Market Capitalization decreased by 1.06 per cent to 14.84tri/- from 15.00tri/-in the previous week, while Domestic Market Capitalization increased by 0.14 per cent to close the week at 9.10tri/- from 9.09tri/- previous week.

DSEI moved downward by 1.06 per cent to close the market at 1,788.33 points from 1,807.50 points in the previous week.

On another note, TSI index moved upward slightly by 0.14 per cent to close at 3,466.81 points from 3,461.84 points, B&F Index moved upward by 0.78 per cent to close the week at 2,149.01 points from 2,132.39 points in the previous week, while Commercial services index and Industrial & Allied index remained flat to close at 2,356.49 points and 4,743.61 points respectively.

Companies whose share price decreased are as follows; EABL decreased by 2.29 per cent to 3,420/- from 3,500/-, JHL decreased by 4.08 per cent to 4,940/- from 5,150/-, KCB decreased by 3.95 per cent to 730/- from 760/-, NMG decreased by 7.81 per cent to 295/- from 320/-. While CRDB increased by 3.70 per cent to 140/- from 135/-.

During the week, the market recorded a decrease in volume to 538,757 shares with 113 deals from 7,117,544 shares with 91 deals in the previous week. Total turnover decreased by 73.21 per cent to 1.36bn/- from 5.06bn/- in the previous week.

During the week, TBL dominated the market after trading shares worth 1.3bn/- being 96.53  per cent of the total weekly turnover, followed by CRDB which traded shares worth 36.57m/-.

SWIS traded shares worth 5.20m/-, DSE traded share worth 3.19m/-, NICOL traded shares worth 1.12m/-, NMB traded share worth 0.49m/-, TPCC traded share worth 0.48/- while DCB falls last after trading shares worth 34,720/-.

Debt Market

As of the close of the week the outstanding Government bond listed on exchange was 11.33tri/-, on the secondary market, the government bond segment transacted 33.93bn/- with the face value of 33.20bn/-from last week's transaction value and the face value of 77.84bn/- and 76.45 billion respectively.

The corporate bond segment remained dry during the week from previous week which transacted 1.01m/- and face value of 1.0m/- during the week.

  • Tanzania securities Analyst:
  • ombeni@tanzaniasecurities.co.tz
  • mariam@tanzaniasecurities.co.tz

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Author: Stock Market Weekly Performance

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