Bourse trading turnover rises

Tuesday July 16 2019

 

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) weekly turnover grew by 1,223.71 per cent last week, rising to Sh3.02 billion, from the Sh228 million recorded during the previous week.

The market summary by Tanzania Securities Limited (TSI) shows that the improvement was triggered by the return of foreign investors, who have shown low interest in bourse activities for the past two weeks.

The summary shows that the number of shares traded during the week also gained by 327.8 per cent to Sh8.5 million last week from 2 million recorded during the previous week.

The market activity by value was dominated by non-bank companies, accounting for 71 per cent of total activities while banks moved 28.6 per cent of the value of all shares traded during the week under review.

Tanzania Breweries Limited (TBL) transacted the highest value of the shares traded last week as the report shows it transacted shares valued at Sh2 billion last week followed by CRDB Bank Plc and TOL Gases. In terms of volume, banks accounted for 94 per cent of all shares traded during the week, while the remaining firms accounted for six per cent of all volume of shares transacted. According to the report, CRDB Bank accounted for the highest number of shares traded during the reviewed week as more than eight million bank’s shares changed hands between both local and foreign investors.

CRDB Bank counter moved 8,048,763 shares (93.77 per cent) at a price range of Sh100 to Sh105 per share, recording Sh845 million in turnover: 27.8 per cent of total turnover. The summary shows that DSE gained by 1.08 per cent to close the market at 1,909.78 points. On the contrary, TSI lost 0.03 per cent to close at 3,295.61 points. Banks, Finance & Investment (BI) lost 0.15 per cent to close at 2,036.87 points. The Commercial Services (CS) and Industrial and Allied (IA) remained stationary, closing the market at 2,238.14 and 4,512.72 points respectively - as the preceding week.

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