Dar bourse closes the week with turnover down by 79pc

Monday April 15 2019


By Halili Letea @hletea hletea@tz.nationmedia.com

Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) weekly turnover decrease by 79.05 per cent last week, compared with the previous week, reports show.

Zan Securities weekly wrap-ups and DSE reports have indicated that the market recorded a turnover of Sh203.99 million in the week ended Friday, April 13, 2019, down from Sh973.65 million recorded the previous week.

The decline in the bourse turnover was mostly due to a 73.46 per cent fall in the volume traded to 1.41 million shares last week from 5.29 million shares traded the preceding week.

CRDB Bank Plc dominated the market with 68.20 per cent of the total turnover, followed by Tanzania Breweries Ltd (TBL) with 12.43 per cent and YETU Microfinance was third with 9.41 per cent.

Other active counters last week were National Investment Company Ltd (Nicol), Tanzania Portland Cement Company (TPCC), NMB Bank Plc, DSE Plc, Vodacom Tanzania, Swissport Tanzania Plc (Swiss) and Maendeleo Commercial Bank (MCB).

Meanwhile, DSE Plc was the only counter to record a price movement, after going down by 3.08 per cent to close at Sh1,260 from Sh1,300 during the period under review.

Total market capitalisation declined by 0.42 per cent, closing at Sh19.94 trillion, while domestic market capitalisation declined slightly to close at Sh9.15 trillion.

The key benchmark indices report shows that the Tanzania Share Index (TSI) closed on 3,482.64 points, a slight decline of 0.01 per cent, and the All Share Index (DSEI) lost 0.42 per cent to close on 2,068.93 points.

On the future outlook, Zan Securities’ report noted that, “The equities market closed the week on a low note as prices and volumes declined. However, we expect the first quarter results from commercial banks to boost prices and turnover in the coming weeks.”