CRDB, TBL RISE DSE TURNOVER BY 186PC

In Summary

A total of Sh4.3 billion was registered in weekly turnover last week, up from Sh1.5 billion that was registered during the preceding week.

Turnover at the Dar es Salaam Stock Exchange (DSE) rose by 186 per cent last week, thanks to massive transactions at TBL and CRDB counters as investors believe the equities have settled at their ‘fair’ prices.

A total of Sh4.3 billion was registered in weekly turnover last week, up from Sh1.5 billion that was registered during the preceding week.

CRDB and TBL accounted for 98 per cent of the total turnover last week.

“This simply shows that investors believe the existing price is the right one for CRDB,” the Zan Securities chief executive officer, Mr Raphael Masumbuko told The Citizen last week, referring to the price per share of Sh160 for CRDB.

The DSE All Shares Index (DSEI) – which tracks the market value of both domestically listed and cross-listed equities at the DSE - closed at 2,207.27 points during the last week’s close, an increase of 51.26 points higher than 2,156.01 points recorded during the previous week’s close.

Other listed companies which recorded share trading last week were Vodacom Tanzania, DSE, TPCC, TCCL, NMB, DCB, Swissport and Mufindi Community Bank (MUCOBA).

The prices for the main market dominant TBL was flat during last week as the report shows that it remained flat at the highest of Sh13,300 while the price for CRDB improved to the highest of Sh160 last day of the week from the highest price of Sh155 recorded during previous week’s close.

The last week’s reports showed that the market was dominated by foreign investors as they accounted for more than 97 per cent of shares trading for both selling and buying sides.

The DSE market report shows that the market capitalization closed at Sh21.25 trillion during the last week’s close, higher than Sh20.59 trillion recorded during the previous week’s close.

However, the report showed that the Tanzania Shares Index (TSI) which measures the locally listed companies closed at 3,828.70 points, lower than 3,830.17 recorded during the previous week’s close.

The domestic market capitalization also closed at Sh10.03 trillion during last week’s close from Sh10,04 trillion recorded during the previous week ended on November 24 this year.

The Citizen