BUSINESS ACTIVITIES DECLINE AT DAR ES SALAAM STOCK EXCHANGE

Trading activities at the Dar es Salaam Stock Exchange (DSE) last week closed lower in terms of turnover, as major performance indicators showed different directions.

The Zan Securities Limited weekly market wrap-ups show that the total turnover decreased by 16% to TZ 771 million compared to TZ 913 million of the preceding week.

Over 66%  of the turnover during the period under review was contributed by National Microfinance Bank (NMB) and Tanzania Breweries Limited (TBL) at a price ranging from TZS 2,640 and TZS 3,000 per share for NMB and a price ranging from TZS 8,100 to TZS 8,120 per share for TBL.

Most heavily capitalised local stocks such as TBL, NMB and CRDB recorded a price gain. This was largely due to increased demand for equities following attractive dividends declared and positive quarterly reports released during the week.

The coming weeks will see the equities performance trending further northwards on improving positive expectations after the release of quarter one reports.

The Tanzania share index (TSI) capped at 3,059.22 points while the DSE All Share Index closed at 1,955.91 points.

Consequently, on a weekly comparison, key benchmark indices sustained an upward trend as sentiments stayed positive except for the All share Index (DSEI) that pointed south by 3.57%.

The Tanzania share index (TSI) closed high by 1.24% or 37.35 points to close at 3,059.22 compared with the 3,021.87 points posted a week earlier.

The Industrial and Allied sector index was up 5.23% and banks, finance and investment sector index went up 3.37%.

The week under review saw the market capitalisation decline by 3.52% to close at TZS 17.32 trillion.

However, domestic market capitalisation rose to TZS 6.43 trillion from TZS 6.35 trillion of the previous week, which is equivalent to a 1.24% increment.