Cross listing share prices decrease lowers DSE all shares Index

Thursday November 28 2019

 

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

Dar es Salaam.  The Dar es Salaam Stock Exchange all shares index (DSEI) closed 15.23 points down at 2,014 points on Wednesday, compared with 2,029.32 points recorded on Tuesday’s close.

The slowdown of the DSEI was a result of decrease of share prices among cross listed companies including East African Breweries Limited (EABL), KCB Bank and Nation Media Group (NMG).

The DSE market report shows that EABL share price fell by 1.79 per cent to Sh4,400 recorded on Wednesday from Sh4,480 recorded on Tuesday.

The KCB Group share price went down by 1.85 per cent to Sh1,060 from Sh1,080 respectively.

NMG also recorded the decrease of share price during the period under review by 2.25 per cent to Sh870 from Sh890 respectively.

The report shows that a total turnover of Sh1.02 billion recorded on Wednesday from a transaction of 10 million shares traded in 20 deals, lower than Sh1.1 billion recorded during the previous day.

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Foreign investors injected Sh950 million from buying shares which was 93.06 per cent and similar amount on selling shares.

“The equities market showed a sign of improvement in terms of turnover; however the de-listing of ACACIA reduced the market capitalization. As we approach the year end, we expect a few improvements in prices and volumes,” said the last week’s market wrap ups by Zan Securities Limited.

CRDB was top mover after recording transaction of 10 million shares valued Sh952 million at a price ranging between Sh95 and Sh100 in eleven deals on pre-arrangement market board.

DSE was the second mover with a total turnover of Sh65 million from transaction of 65,035 shares traded at Sh1,000 in seven deals.

Other top movers were NICO which had a turnover of Sh0.5 million and Tanzania Portland Cement Company Limited with Sh2 million.

The market has shown that the market was still supplied with highest number of shares on offer, but the demands were recorded by only three companies including CRDB Bank, NICO and TPCC.

Vodacom Tanzania had the highest number of shares on offer with 1.2 million shares lined up for grab, followed by DCB Bank with 146,824 and NMB Bank with 120,212 shares.