Impact of Nicol share price rise felt

Dar es Salaam. The appreciation of the price of Nicol shares pushed up the Tanzania Shares Index (TSI) during the opening day of this week, the Dar es Salaam Stock Exchange (DSE) market report shows.

TSI gained by 0.26 per cent to 4,154.98 points on Monday from 4154.72 points recorded during the last week’s close.

The company share price gained to the closing price of Sh305 in Monday this week from Sh295 recorded during last week’s close.

The collective investment scheme transacted 28,100 shares in five deals valued Sh8.56 million, making it the second with the highest turnover behind Tanzania Breweries Limited (TBL), which transacted shares valued at Sh347.4 million.

The appreciation of the price of Nicol shares, also pushed up the company market capitalisation to Sh21.10 billion during Monday’s close, from Sh20.41 billion recorded during the last week’s close. The report shows that Nicol had also the third highest shares on demands as it has 60,729 outstanding bids.

Tanzania Portland Cement Company (Twiga) had 98,729 outstanding bids while CRDB has the highest number of shares amounted 112,470.

The Monday’s market report shows that a total turnover of Sh358.51 million from transaction of 55,003 shares traded in 16 deals.

However, the total market capitalisation decreased to Sh20.91 trillion on Monday from Sh20.98 trillion.

The majority of shares sold were floated by foreign investors with 95.60 per cent of the value of all shares sold, while local investors sold 4.40 per cent of the value of shares sold.