Local investors rule DSE business
What you need to know:
- Local investors dominated the Dar es Salaam Stock Exchange (DSE) market turnover by 74.4 per cent last week, injected shares worth Sh1.19 billion of the total turnover of Sh1.59 billion reached on the week ended Friday last week. Reports have further indicated that last week turnover was 3.21 per cent down compared to Sh1.65 billion reached on the week before.
Dar es Salaam. Local investors dominated the Dar es Salaam Stock Exchange (DSE) market turnover by 74.4 per cent last week, reports have shown.
Zan Securities weekly wrap ups and DSE reports have indicated that local investors injected Sh1.19 billion of the total turnover of Sh1.59 billion reached during the week ended Friday February 22, 2019. Turnover from shares bought by foreign investors was only 25.6 per cent, equivalent to Sh409.1 million.
The reports further indicated that last week turnover was 3.21 per cent down compared to Sh1.65 billion reached the week before.
Vodacom Tanzania Plc was the top mover with 67.75 per cent of the total turnover, followed by Tanzania Breweries Limited (TBL) at 25.01 per cent. Other active counters were Tanzania Portland Cement Company (TPCC), DSE Plc, CRDB Bank Plc, Tanga Cement Plc (TCCL), National Investment Company Ltd (NICOL), TOL Gases Ltd (TOL) and NMB Bank Plc.
Only the NICOL counter recorded a price movement. It gained 3.03 per cent to close at Sh170 from Sh165 in the previous week. Total Market capitalisation increased by 0.42 per cent to Sh20,705.46 billion. The domestic market capitalisation stayed almost flat at Sh9,281.87 billion.
The DSE All-Share Index (DSEI) rose by 0.42 per cent to close at 2,148.11 points while Tanzania share index (TSI) remained stagnated at 3,533.65 points.
Zan Securities weekly market wrap ups report has also noted that, “We remain upbeat about the performance of the market as we enter the second quarter and we think the third and fourth quarters might turn out positive for investors”.
