TBL stocks surge on DSE weekly reports

DAR ES SALAAM Stock Exchange (DSE) turnover has significantly rallied on the back of pre-arranged trades coming from Tanzania Breweries Limited (TBL) stocks.

The total turnover registered a remarkable increase of 91.5 per cent to 4.78bn/- where TBL contributed the lion’s share.

Zan Securities Chief Executive Officer, Mr Raphael Masumbuko yesterday attributed the notable rise to pre-arranged transactions carried out within the week.

“The overall sentiment of the market was characterised by a blend of positive and negative factors, resulting in a contraction of the total market capitalisation and a slight expansion in the domestic market capitalisation,” Mr Masumbuko said in the firm weekly market wrap-up.

The prominent stocks in terms of trading volume for last week were TBL, CRDB Bank and Tanga Cement, commanding 82.9, 13.94 and 1.11 per cent of total turnover respectively.

The pre-arranged trades involving 350,000 and 280,000 TBL shares were executed at an average price of 6,000/- and 6,500/- per share respectively, according to Zan report.

Simba Cement led the gainers by registering a 6.98 per cent upsurge in price closing at 1,840/- per share, CRDB bounces back after weeks of losses registering 2.25 per cent uptick to close at 455/- per share.

On the other hand, DCB Bank was the sole loser for the week losing 9.09 per cent to end the week at 150/-.

Exodus Advisory’s weekly market report showed that the total market capitalisation declined by 0.30 per cent to 15.29tri/ while domestic market capitalisation increased by 0.30 per cent to 10.86tri/-.

In return, DSE All-Share Index (DSEI) decreased by 0.30 per cent while the Tanzania Share Index (TSI) increased by 0.30 per cent.

“These patterns suggest that the change in total market cap primarily resulted from the decrease in prices of cross-listed shares while domestic market cap increased due to rise of domestic counter prices” Exodus report said.

Vertex International Securities weekly market review said the equities market performance echoed their last week’s forecast as turnover increased.

“Surprisingly, the resurgence of counters such as TBL was not enough to boost volume as we might have expected.

“We forecast a recovery on volume and foreign buyers next week as counter prices may continue with this week’s momentum,” Vertex said.

The banking sector performance, the Zan Securities report, showed Bank, Finance and Investment Index increased by 0.78 per cent to 3,980.09 points.

The Industry and Allied sector increased by 0.13 per cent to close the market at 5,109.32 points last week, and Commercial Services stagnated at 2,155.32 points.