CRDB Bank, Acacia, KCB stocks end the week lower
Brokers at work at the Dar es Salaam Stock Exchange. PHOTO | FILE
What you need to know:
- The Dar es Salaam Stock Exchange (DSE) closed last week low on Friday, when compared with Monday, an opening day of last week. This resulted into a drop of the market indicators including indices, market capitalisation, although the value of shares transacted was high.
Dar es Salaam. CRDB Bank Plc, KBC Bank and Acacia shares prices closed last week down on Friday last week, when compared with the opening on Monday.
The Dar es Salaam Stock Exchange (DSE) market reports show that Acacia experienced the huge drop after its share price closed at Sh3,980 on Friday from the opening price of Sh4,660 on Monday.
The report shows that KCB Bank share price fell by Sh10 to Sh860 during Friday’s close, from Sh870 recorded in Monday’s opening while CRDB share price fell to Sh150 during Friday’s close from Sh160 recorded during the opening session of the week.
This has also affected total market capitalisation which closed Sh240 billion low at Sh20.06 trillion on Friday from Sh20.37 trillion recorded during the opening day of last week.
The domestic market capitalisation fell slightly to Sh10.07 trillion during the closing day of last week from Sh10.11 trillion recorded during the opening day of the week.
The report has shown that the majority of shares transacted during the week were floated by local investors but the majority of them, in terms of value, were bought by foreign investors.
Tanga Cement Company (TCCL), producers of Simba Cement and CRDB Bank Plc transacted the highest value of shares which were bought and sold during the week under review. Other active counters during the week were Nico, Tanzania Breweries Limited, NMB Bank, DSE Plc, Swissport, Tanzania Portland Cement Company Limited (TPCC), which produces Twiga Cement brand. The report shows that the market is currently flooded with shares on offer, but the bids are low, targeting CRDB, TPCC, Nico, DSE and TBL.
