This represents 75 per cent fall. As the market experienced a sluggish performance last week, some counters ended the week with gains in their respective share prices.
On individual counters, NMB Bank share appreciated from 960/- per piece to close the week at 1,000/- while CRDB Bank began the week at 115/- and closed at 117/50.
Tanzania Cigarette Company (TCC) share price also moved from 3,860/- to 4,020/-. Other counters shares remain unchanged. In another development, stock investors have started to show interest on TOL Gases shares following the company’s recent positive financial progress.
The firm saw an end of a streak of loss making after posting a first profit in the last five years in 2011 and also in the first half of this year to push equity investors’ confidence. TOL, the main manufacturer of industrial and hospital gases, saw its share price appreciating by 20 per cent in about one month to close the week at 240/- compared to 170/-a unit last year.
The Tanzania Securities Chief Executive Officer, Mr Moremi Marwa, said the market expected transactions on TOL counter to increase this week to as “local investors have started showing interest”. However, he cautioned that the counters’ activity may be restricted by limited supplies.
Last week’s Market Commentary by Tanzania Securities shows that TOL was active by trading 250,000 shares at 240/-, higher prices by 9.09 per cent in comparison to 220/- of the previous week. Market analysts said the trend shows that the public is confident on the company’s growth path.
In one week, the share price has gone up by almost 10 per cent. Recently, an equity report suggested TOL share as the best medium term to a speculative buy by stockbrokers after making a quick u-turn to profitability.