Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) weekly equity market weakened by 36 per cent last week as foreign participation reduced in the bourse.
The week-on-week turnover decreased to Sh3.91 billion compared Sh6.07 billion recorded during the previous week, according to a weekly market report by Zan Securities.
Foreign investors who account for the largest share of the turnover bought equities worth Sh3.8 billion compared to Sh5.9 billion they invested in the previous week. Much of the trading was experienced on Tuesday when investors bought CRDB Bank shares worth Sh2.8 billion in three deals through pre-arranged trading.
Pre-arranged trading involves buying and selling between dealers at an agreed upon price. As a result, CRDB dominated the market share for the week accounting for 89 per cent and it was followed by Tanzania Breweries Ltd (TBL) at 8.50 per cent.
CRDB counter was also one of the top gainers after its share appreciated in value by 2.50 per cent Sh205. The self-listed Dar es Salaam Stock Exchange (DSE) grew by 1.72 per cent to close the week at Sh1,180 per share.
Total market capitalisation increased by 2.76 per cent to Sh19.24 trillion. Domestic market capitalization increased by 0.18 per cent to Sh7.72 trillion.
The Tanzania Share Index (TSI) capped at 3,673.40 points, 0.18 per cent lower than preceding week, while the All Share Index (DSEI) closed at 2,211.37 points, 2.76 per cent lower than last week.
Industrial & Allied Index and the Commercial Services Sector Index remained constant at 4,809.80 points and 2,467.34 points, respectively. Banks, Finance and Investment Index went up by 0.67 per cent, closing at 2,616 points.