“We anticipate low to medium level of activity as the rate of return on money market instruments have started to edge down,” stated the Tanzania Securities Limited (TSL) in a weekly market commentary. According to the market report, the bourse last week recorded a 15.38 per cent decline in turnover to around 2,690.47m/- from trading of 1,902,413 shares compared to 3,179.01m/- traded in the preceding period.
Likewise, indices edged downward during the week due to decline of CRDB share prices by 3.1 per cent to 160/- from 165/- despite the appreciation of TBL shares by one per cent to 2,040/- from 2,020/-. CRDB recorded 3.10 per cent price fall as the counter continued to experience strong supply from investors. Listed firms under industrial and allied sector remained the most active, with Twiga emerging the top trader, contributing to 89.09 per cent of the market turnover.
The TBL, TCC and Simba recorded turnovers of 11.12m/-, 1.57m/- and 6.09m/-respectively. The Banks accounted for around 10.18 per cent of the market turnover with NMB emerging the sector’s top trader with turnover of around 7.04 per cent, stated the report.
CRDB recorded the turnover of 84.47m/- equivalent to 3.14 per cent of the market turnover while only 100 DCB shares were traded during the week at 640/- each. Likewise, Swissport continued to experience low level of activity despite the strong demand for its shares from investors. Investors are holding on to their Swissport shares in anticipation of high dividends. However, the week witnessed total absence of foreigners’ participation in the trading sessions at the equity market, showed the report