TRADING IN EQUITY SLOWS DOWN AT DAR ES SALAAM STOCK EXCHANGE

Equity instruments traded at Dar es Salaam Stock Exchange (DSE) were low last week with volumes recording an 81 per cent below the previous session.

The weekly market wrap-up by Zan Securities Limited shows that activities involving nine equities resulted in a turnover of 1.27bn/-, down from 54.23bn/- of the previous session.

Industrial and allied sector were the most traded, with Tanzania Portland Cement (TWIGA) emerging as the week's most traded equity, contributing more than 54 per cent of total turnover during the period.

During the week under review SIMBA released its unaudited financial results for the six months ending June this year with earning per share growth of 40 per cent and dividend per share of 55/-.

The market recorded six price movements in local listed companies at the end of the week, all equities on gaining side, SIMBA, TWIGA, SWISSPORT, DCB, TBL and TCC for 16 per cent, 8.13 per cent, 4.17 per cent, 2.08 per cent, 0.58 per cent and 0.23 per cent respectively.

Total market capitalization increased by 0.89 per cent to 21.23tri/- while domestic market capitalization increased by 1.19 per cent compared to a week earlier.

Two out of the seven cross listed companies recorded positive price movement at the close of the week. Other four cross listed companies recorded a negative price movement while Kenya Airways counter remained unchanged.

Consequently, on a weekly comparison, key benchmark indices sustained the upward trend as sentiments stayed positive. The Tanzania Share Index (TSI) closed high by 1.20 per cent when compared to the previous week.

The All Share Index (DSEI) closed high by 0.73 per cent. Inversely, Industrial and Allied Index decreased by 0.10 per cent, Banks, Finance and Investment Index increased by 0.02 per cent and Commercial Services Index increased by 2.41 per cent.

"We remain long-term positive on the outlook for the market performance especially from Industrial and Allied and Banks, Finance and Investment mainly from local listed companies," said Mr Raphael Masumbuko, Zan Securities Chief Executive Officer.