Foreigners return with a ‘bang’ at DSE, exchange Sh5bn shares

TBL’s Sustainability Affairs manager Irene Mutiganzi (right, with clenched fists) speaks to workers at a Mikocheni pub in Dar es Salaam during the celebration of this year’s Global Beer Responsible Day early in the week. The company’s shares stole the show at the Dar es Salaam Stock Exchange on Tuesday. PHOTO | THE CITIZEN CORRESPONDENT

Dar es Salaam. Foreign investors made a comeback at the Dar es Salaam Stock Exchange (DSE) on Tuesday after they bought Tanzania Breweries (TBL) shares worth Sh4.89 billion.

The transaction--made in a prearranged market board--saw the TBL counter trading 544,300 shares at Sh9,000 per share in a single deal.

Foreign investors accounted for 99.9 per cent of all shares, the DSE Market report shows.

Foreign investors sold 99.9 per cent of the shares, implying that the shares were exchanged among them. On Tuesday, DSE recorded a total turnover of Sh4.91 billion from 604,491 shares traded in 17 deals. The amount traded was the highest in the period of one month since Friday, August 16, 2019 when a turnover of Sh7.38 billion was realised.

Apart from TBL, other active counters on Tuesday were CRDB Bank and TOL Gases.

Total market capitalization increased by Sh58.7 billion on Tuesday to Sh18,919.02 billion from Sh18,860.30 billion the day before, thanks to improvement in prices of some cross-listed equities.

Those that saw their share prices rising included: East African Breweries to Sh4,420, Kenya Commercial Bank to Sh860 and Nation Media Group to Sh910 a share.