DSE up as foreign investors snap up Tanzania Breweries shares

Dar es Salaam. Foreign investors made a comeback at the equity market on Tuesday this week after injecting Sh1.2 billion in shares for Tanzania Breweries Limited (TBL).

The beer maker transacted 153,169 shares at a pre-arranged market board at Sh8,000 per share in three deals, market data show.

This largely contributed to the rise of the bourse’s total turnover, which reached Sh1.23 billion on Tuesday from 231,068 shares that were traded in 12 deals.

This was higher than the Sh5.56 million that was registered during the previous day.

Foreign purchase contributed 99.21 percent while locals bought the remaining 0.79 percent. Majority of the shares were also sold by the foreigners.

CRDB Bank Plc traded 69,890 shares at an average price of Sh140 per share in five deals. At the close of business, the firm recorded Sh9.78 million. DSE counter had nine shares traded at a weighted average price of Sh980 per share in three deals. The firm’s turnover was Sh8, 820.

The Nicol counter had 8,000 shares, which were traded at weighted average price of Sh170 per share in one deals. The firm’s turnover was Sh1.36 million.

In the government securities market, high interest rates and yields in the long term assets continued to attract investors’ appetite.

On Tuesday, the government’s 10-year bond - with a coupon rate of 11.44 per cent and a face value of Sh90 million - was traded at 93.07 percent in one deal, while the 15-year bond with a coupon rate of 13.50 percent and a face value of Sh50 million was traded at 99.85 percent a single deal.

The 20-year bond with a coupon rate of 15.49 per cent and a face value of Sh10 million was also traded at 88.86 per cent in a single deal.