In Summary
The firm accounted for 98 per cent of the turnover
while foreign investors bought Sh49.43 billion shares. The brewer’s share price
appreciated by 11.82 per cent to Sh12,300.
Dar es
Salaam. Trading jumped at the Dar es Salaam Stock Exchange (DSE) as foreign
investors flocked to the Tanzania Breweries Ltd (TBL) counter, which dominated
the market last week.
The
weekly turnover jumped to Sh50.48 billion last week from Sh1.2 billion the
previous week.
TBL
accounted for 98 per cent of the turnover while foreign investors purchased
Sh49.43 billion shares.
The
market is recovering from weak performance it has been recording since the end
of last year.
“Year-end
is always a low season for the stock market but this time the trend has been
extended through May due to the fact that many were focusing on the Vodacom
Tanzania initial public offering.
Business is now peaking and we expect gaining
of turnover and equity prices to continue next week,” said Zan Securities chief
executive officer Raphael Masumbuko.
According
to him, foreign investors normally like to buy shares in the companies which
have some foreign ownership.
TBL was
the top gainer of the week after its share price appreciated by 11.82 per cent
to Sh12,300. Top losers for the week was Swissport which depreciated by 12 per
cent Sh 4,400 per share and Mkombozi Commercial Bank that fell by 10 per cent
and closed the week at Sh900 per share.
Total
market capitalisation decreased by 0.36 per cent, closing the week at Sh18.51
trillion. Domestic market capitalization increased by 4.37 per cent Sh7.34
trillion.
The
Tanzania Share Index (TSI) capped at 3,492.51 points, being 4.37 per cent
higher than preceding week. The All Share Index (DSEI) closed at 2,127.77
points which is 0.36 per cent lower than last week.
Industrial
& Allied Index improved by 8.11 per cent to 4,534.97 points while Banks,
Finance and Investment Index went down by 2.72 per cent to 2,497.85 points.
Commercial Services Sector also decreased by 8.46 per cent to 2,718.47 points.
Started
in April 1998, DSE is open from Monday to Friday from 10.00 am to 14.00 pm.
Source: The Citizen
No comments:
Post a Comment