BUSINESS AT DAR ES SALAAM STOCK EXCHANGE PICKS UP

Turnover at the Dar es Salaam Stock Exchange (DSE) rose by 21.32% to TZS 913 million, from TZS 789 million with a boost from the National Microfinance Bank (NMB) and CRDB Bank activities that contributed 35% of the week’s value.

A significant market recovery is expected in the coming weeks, particularly from the banking, finance and investment sector.

According to weekly wrap-ups produced by Zan Securities Limited, the DSE all share index went down by 12.27 points or 0.6% and closed at 2,028.41 points while the local shares index (TSI) ended in the green by 0.32%.

The banking, finance and investment sectors gained 25.71 points or 0.94% to close at 2,773.99 while Commercial Services index and Industrial and Allied index remained flat during the week.

DSE market capitalisation decreased by 0.42% to 17,955.00, inversely, domestic market capitalization went up by 0.32%.

The weekly market report by Tanzania Securities Limited (TSL) indicated that shares traded during the week fell to 588,850 shares or 25.94% down compared to 794,201 shares that changed hands in the previous period.

The Banking segment Index strengthened by 0.94% to close the week at 2,773.99 points on the backdrop of a gain posted on the NMB counter by 1.40%.

However, the Industrial and Allied Index remained flat to close the week at 3,565.14 points.

The banking segment was more active compared to the Industrial segment the week under review after contributing 87% of total turnover and 52% of the market activity.

The CRDB Bank counter was dominated by local investors to trade a volume of 242,074 shares at a price of TZS 305 and TZS 310.

The NMB counter traded 112,136 shares at a prices TZS of 2,860 and TZS 2,900 per share. The Industrial and Allied segment’s turnover was 13% of the week’s turnover. Volume was 48% of the total shares traded this week.

The TBL counter was again the most active in the Industrial and Allied segment this week. The counter traded 40,032 shares at TZS 8,100. The Simba counter followed with 32,600 shares transacted at prices of TZS 2,480 and TZS 2,420 per share.

The Swissport counter had 1,497 shares that exchanged hands at a price of TZS 2,700 per share. The Tanzania Cigarette Company (TCC) counter transacted 2,620 shares at a price similar to the previous week’s TZS 10,000.

The Twiga counter had 19 shares traded at TZS 2,460 per share. There were no activities on the PAL, TOL and TATEPA counters during the week.