Precision Air, Twiga counters top movers at stock exchange

Dar es Salaam. Precision Air Tanzania (PAL) and Tanzania Portland Cement Company (TPCC) emerged top movers during the first day of trading this week at the Dar es Salaam Stock Exchange (DSE).

A market report shows that two locally-listed companies transacted shares valued at Sh28 million.

The total market turnover was Sh34.5 million during the day.

TPCC, which trades as Twiga, led the list among top movers after recording a total turnover of Sh19.1 million from transacting 9,120 shares at Sh2,100 each in five deals.

Precision Air, which has been among of the dormant counters at DSE, started November on a high note after recording Sh8 million turnover from transacting 20,00 shares at Sh400 each in two deals.

The report shows that Precision Air share prices fell to a closing price of Sh400 from Sh470 during an opening session while TPCC share prices gained to a closing Sh2,100 from Sh2,060.

The report shows that many of the active counters sold their shares at low prices, when compared with those during the opening, with except of TCCIA Investment Company Limited, which recorded the highest buying share price of Sh295 compared with an opening session of Sh290. DSE Plc traded its shares on the same opening and closing price of Sh1,680.

Two companies sold their shares at low prices. They were Swissport, which sold them at Sh2,340 compared with Sh2,750 at the closing session.

CRDB Bank Plc transacted its shares at Sh145 each compared with the closing price of Sh150.

The Tanzania Share Index, which measures the performance of locally-listed companies, closed at 2,069.01 points on Monday this week, up from 2,060 during the closing day of last week.

DSE was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association.