DSE turnover hits Sh7.3bn as block trading resumes

Monday August 10 2020

DSE staff follow proceedings during a trading

DSE staff follow proceedings during a trading session in Dar es Salaam recently. PHOTO | FILE 

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

Dar es Salaam. Equity markets performance increased to a turnover of Sh7.3 billion last week after more block trading was experienced at the Dar es Salaam Stock Exchange (DSE).

During the previous week, the DSE had a turnover of Sh87.18 million - an increase which was stimulated by pre-arranged transactions.

Last week, the bourse had three block transactions, including that of the Tanzania Breweries Limited (TBL) worth Sh4.1 billion after trading 839,763 shares on Monday.

TBL dominated the weekly market share - accounting for 63.7 percent of the total turnover - followed by the CRDB Bank, with 30.99 percent, according to the weekly wrap-up from brokerage firm Zan Securities Ltd.

CRDB also traded 16,990,056 shares through a pre-arranged market board on Tuesday at a turnover of Sh2.2 billion.

Commenting on last week’s performance, Zan Securities chief executive officer Raphael Masumbuko said “The domestic equity market recorded a slight increase in performance, echoing our last week’s sentiments. We expect the momentum to continue next week”.

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In terms of market capitalisation, the equity market decreased by 1.77 percent (to Sh14.68 trillion), while the domestic market capitalization increased by 0.14 percent, to Sh9.13 trillion.

Both the key benchmark indices increased. The Tanzania Shares Index (TSI) gained by 0.14 percent - and closed at 3,476.88 points - while the All-Shares Index (DSEI) decreased by 1.77 percent to close at 1,768.38 points.

The Industrial and Allied Index (IA) closed at 4,743.61 points - like the week before - while the Bank, Finance and Investment Index increased by 0.77 percent, closing at 2,182.69 points.

The Commercial Services Index closed at 2,356.49 points - same as last week.