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DSE posts robust performance

The Tanzania Securities Limited (TSL) weekly market commentary shows that shares which changed hands at the market rose to 4,096,411 up from 462,775 during the previous week. The week’s outstanding performance was mainly supported by CRDB counter that accounted 42 per cent of the total turnover and 89 per cent of the volume of trade.

The TBL counter accounted 49 per cent of the total turnover and four per cent of the volume. Indices remained flat with both the Dar es Salaam Stock Exchange All Share Index (DSEI) and the Tanzania Share Index (TSI) closing the week with the same points as last week’s.

During the period under review, foreign investors participated significantly for about 79 per cent by 792m/- on the volume of 131,100 shares and 3,620,744 shares on TBL and CRDB respectively. The banking segment was the most active and liquid than the Industrial and Allied sector where 3,620,744 CRDB shares traded compared to the preceding market where only 346,212 shares changed hands.

The CRDB counter saw significant support from foreign investors’ accounting 54 per cent total turnover. However, the counter remained flat during the week. The NMB closed the week with a share price of 1,000/-. The counter transacted 40,272 shares, which is 43 per cent lower than 70,900 shares that changed hands in the previous market.

The TBL counter generated a turnover of 494m/-, with 188,901 shares traded on the counter during the week mainly supported by foreign investors who participated by buying 131,100 stocks in a pre- arranged deal at 2,800/- per share.

The TOL moved 34,500 shares last week with its price remaining flat. Twiga counter traded 4,994 shares at 2,500/- per share. SWISSPORT moved 3,349 shares with its price remaining 1,340/- per share. The TCC and Simba traded 2,983 shares and 2,249 shares respectively. TATEPA counter traded the least shares during the week.

There were no activities in the Precision Air Limited counter. “We expect the market to maintain high activity levels backed by increased liquidity and largely by foreign investors’ participation,” said Mr Moremi Marwa, the TSL Chief Executive Officer.

On the specific counters, the CRDB, TBL and NMB are expected to witness notable activity over the next few weeks as investors speculate publication of positive financial results.

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