Dar es Salaam. An upsurge in trading activities at the Tanzania Breweries Limited (TBL) counter at the Dar es Salaam Stock Exchange (DSE) pushed up the market turnover last week.
The turnover increased by 1.61 per cent, rising to Sh2.5 billion last week, as against the Sh2.4 billion realised in the previous week, according to the Zan Securities weekly market wrap-up report.
TBL contributed 96.32 per cent of the weekly market turnover.
During the first day of trading on Monday, the TBL counter closed the day with Sh258.47 million in total turnover after trading 25,862 shares at an average price of Sh10,000 per share in six deals.
On Tuesday, the company’s counter had another busy day after collecting more than Sh260.4 million from 26,135 shares at Sh9,950 per share in 16 deals.
After two days of the Idd-ul-Fitr holidays, trading resumed on Friday when TBL collected a significant amount in total turnover, reaching nearly Sh1.92 billion.
During the day, TBL collected Sh1.62 billion in a single pre-arranged market board deal as the counter traded 168,000 shares at the negotiated price of Sh9,700 per share.
The company’s counter also had 29,501 shares traded at the weighted average price of Sh9,750 per share in 11 deals, making Sh287.634 million in turnover.
“In our last week’s market insight, we expected an increase in volume and price stabilization. As we are approaching the second half of 2019, we expect further improvement in market performance,” the Zan Securities Limited report says.