DAR BOURSE REGISTERS GOOD BUSINESS

The turnover at the Dar es Salaam bourse increased last week doubling to 1.68bn/- compared to 807m/- recorded during the preceding session.

During the week, foreign participation decreased by 99 per cent while local stocks represented 260 per cent of the turnover.

According to Zan Securities Limited Weekly Market Wrap-ups, the week saw the Industrial and Allied sector as the most active after making turnovers worth 629m/- followed by banks, finance and investment sector with 618m/-.

As a result, the total turnover appreciated by 109 per cent while volume of shares increased to 2.5 million from 423,000, up by 497 per cent. Total market capitalisation rose by 1.41 per cent during the week, and domestic market capitalization increased by 2.86 per cent.

Most of the major sector indices changed positively except commercial services index that remained unchanged. Three cross-listed companies and four local firms recorded a drop in price.

Inversely, two cross-listed companies and two local companies recorded rise in price during week under review. NMB led the list of top gainers by increase of 180/- per share or 5.36 per cent up followed by TBL that appreciated by 420/- or 4.9 per cent up.

The market is likely to remain volatile as investors are trying to adjust their portfolios as per the budget impacts. However, there is expectation of much impact on stock that relates to local manufacturing companies due increased government measures to protect local producers.

According to Tanzania Securities Limited (TSL) the market indices continued with their upward rally for both DSEI and the TSI.

The DSEI closed 1.41 per cent higher at 2,096.79 points while the TSI ended the week at 3,305.07 points or 2.87 per cent higher.

CRDB maintained its lead in the Bank and Finance sector with a volume of 1,936,246 shares traded at prices of 320/- and 315/-.

The TOL Gases Limited, on the other part was the main active counter TOL was the most active counter in the Industrial and Allied segment this week. TOL traded 452,597 shares at prices of 500/- and 490/- and 495/-.