Dar bourse turnover falls on absence of foreign investors
Dar es Salaam Stock Exchange chief executive officer Moremi Marwa PHOTO | FILE
What you need to know:
- The Dar es Salaam Stock Exchange (DSE) recorded a turnover of Sh13.27 million only during an opening day of this week, contrary to Sh6.57 billion recorded on Friday last week.
Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) traded shares worth only Sh13.27 million on Monday this week, down from Sh6.57 billion on Friday last week.
DSE reports show that the amount was recorded following the trading of 31,550 shares in 22 deals.
The slow start of the bourse was due to the absence of foreign investors. The CRDB counter recorded the highest turnover of Sh3.63 million after trading 26,880 shares at Sh135 each in 10 deals, followed by Tanzania Breweries Ltd (TBL) with a turnover of Sh3.6 million, from transacting 300 shares at Sh12,000 each in six deals.
Other active counters were those of Tanzania Portland Cement Company, Swissport Tanzania Ltd, DSE Plc and NMB Bank.
According to the reports, the total market capitalisation slightly improved to Sh19,372.72 billion on Monday from Sh19,370.97 billion on Friday last week while domestic market capitalisation was flat at Sh9,564.87 billion.
An increase in the total market capitalisation was due to share price gains in counters on cross-listed companies such as East African Breweries Ltd (EABL) that rose by 0.53 per cent to Sh3,780 on Monday; KCB by 3.37 per cent to Sh920 and Jubilee Holdings Ltd by 1.04 per cent to Sh9,750.
That resulted in the 0.18 per cent improvement in the DSE All Share Index (DSEI) to 2,009.84 points from 2,009.66 points while Tanzania Share Index (TSI) remained at 3,641.39 points.
DSE was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association. The exchange is open five days a week, from Monday through Friday.
