DSE turnover down nearly 5 per cent

Monday May 13 2019

A DSE official checks daily market trends.

A DSE official checks daily market trends. PHOTO | FILE 

By Josephine Christopher @JocfineQ jchristopher@tz.nationmedia.com

Dar es Salaam. The turnover at the Dar es Salaam Stock Market (DSE) declined by 4.94 per cent last week compared to the previous week.

The decline is said to be partially reflected by the negative global trade dispute between the United States of America (USA) and China.

In the week ending May 10, DSE recorded a total turnover of Sh1.4 billion, lower than the Sh1.5 billion recorded during the previous week ending Friday May 3.

Total volume of shares traded during the week also sank to 677,781 last week from 3,849,136 shares traded the previous week.

In its weekly market wrap-ups, Zan Securities, which is one of the licensed brokers at the Dar bourse, stated that the USA and China dispute where the former slapped the latter with a 25 per cent tariffs on additional $200 billion in goods has affected equity market globally.

“However, there are indications that trade talks would continue and we expect this to ease pain in equities,” the report stated.

One of the notable indicators of improvement in the equity market is the increase in foreign investors’ activities which is expected to boost volumes and prices in the coming weeks if the trend continues.

Last week, foreigners injected nearly Sh1.2 billion in the total market turnover, an increase of over 53.76 per cent from the previous week when foreign investors injected Sh759.4 million.