Dar es Salaam Stock Exchange turnover declines by 17.7pc
What you need to know:
- The equities market recorded a weekly turnover of Sh545.87 million to the week ending March 22, a slight decline of 17.7 per cent compared to Sh663.23 of the previous week. The decline according to a broker firm was attributed by the low activities from foreign investors.
Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) recorded a weekly decline of 17.7 per cent in the market’s total turnover for the week ending March 22, to Sh545.87 million from Sh663.23 million recorded during the previous week.
The decrease in the turnover was attributed to lack of activities from foreign investors, according to the weekly wrap up report by Zan Securities, which is a registered stock broker in the country.
“An outcome that we think was likely to happen as we did not expect much activity from foreign investors. We attribute it to the developments in the United States, where investors were waiting for a Federal Reserve announcement,” they noted.
The report shows that during the week ending March 22, foreign investors’ purchases reached Sh183.46 million, which is low compared to the Sh269.75 million of purchases made during the week ending March 15, 2019. CRDB Bank Plc dominated the market by transacting 56 per cent of the total turnover, followed by Tanzania Breweries Limited (TBL) with 34 per cent and Tanzania Portland Cement Company (TPCC) that recorded 5 per cent.
However, total market capitalization increased by 1.69 per cent, to Sh20.16 trillion due to slight decrease of share prices among cross listed companies and the Domestic market capitalization remained constant at Sh9.1 trillion.
DSE indices closed at mixed trend with Tanzania share index (TSI) which measures the performance of local firms remained flat at 3,481.37 points, while the All Share Index (DSEI) increased by 1.69 per cent to close at 2,091.88 points.
