The Tanzania Securities Limited (TSL) weekly market commentary says that despite a slow start on both the activity and turnover, the market progressively made significant gains on improved participation by foreign investors. During the week, total turnover stood at 1.8bn/-, which is 291 per cent up.
The active foreign participation was on support of the CRDB counter which recorded a market participation of 93 per cent during the week. Similarly, the indices rebounded from last week whereby the Dar es Salaam Stock Exchange All Share Index (DSEI) closed 0.61 points; a 0.16 per cent higher at 1,454.42 points. The trend was a result of gains in banking with 0.73 per cent segment.
On the other hand, the Tanzania Share Index (TSI) was significant upbeat to close the week at 1,277.12 points, up by 2.59 points. This is equivalent to 0.76 per cent gain. According to TSL report, foreign investors’ participation on the banking industry was 93 per cent of the week’s turnover supporting the CRDB counter.
The CRDB counter moved a volume of 16,311,457 stocks, which is 5.16 per cent higher compared to only 310,271 shares of the previous trading. The NMB counter maintained its price at 960/- per share while a total of 67,491 pieces were moved during the week. In the manufacturing sector, Twiga and TBL were the most active counters during the period under review.
TBL had local support but the counter closed the week at 2,620/- per share, lower from 2,680/- of the previous period. The TBL counter moved a volume of 9,100 shares. 1,739 Twiga shares exchanged hands during the week at 2,500/- per piece.
However, there were minimal activities on TATEPA and TCC counters with no trading in the Precision Air Limited and TOL counters. SIMBA traded 1,602 shares to close the week with its price remaining flat. “We expect activity to be particularly more pronounced for banks counters because of their existing room to accommodate foreign investors,” stated the report.