Foreign investors reign supreme

Friday December 7 2018

DSE brokers during a trading session. PHOTO |

DSE brokers during a trading session. PHOTO | file 

By Halili Letea @hletea

Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) total turnover hit Sh2,196.19 million on Wednesday this week from 187,821 shares traded in 24 deals, higher than Sh61 million recorded a day before.

The sharp rise of the turnover was due to entrance of foreign investors who exchanged hands with the Tanzania Breweries Limited (TBL) shares, which accounted for 89.09 per cent of a the day’s total turnover.

The DSE report shows that the turnover from shares bought by foreign investors was Sh1,956.5 million while local investors bought only 10.91 per cent, which is equivalent to Sh239.69 million.

According to the report, foreigners bought a lion’s share of the TBL shares, which recorded the highest turnover of Sh2,188.95 million after trading 168,381 shares at weighted average price of Sh13,000 per share in 10 deals.

DSE Plc sat second after recording a total turnover of Sh3.76 million, the counter had 2,687 shares traded at weighted average price of Sh1,400 per share in six deals.

Other active counters on Wednesday were CRDB Bank Plc and Swissport Tanzania Plc (SWIS) which recorded turnovers of Sh2.45 million and Sh1.03 million respectively.

An increase in share prices among the listed counters led to an 8.92 per cent increase in DSE all share index (DSEI) to 3,705.06 points on Wednesday from 2,085.84 points on the day before while Tanzania Share Index remained at 3,705.06 points.

The shares prices increase was recorded on Acacia by 0.56 per cent to Sh5,400 on Wednesday from Sh5,370 on Tuesday and East African Breweries Ltd (EABL) by 1.39 per cent to Sh4,380 from Sh4,320 respectively.