Foreigners give Sh3.9bn lift to DSE
What you need to know:
- Foreign investors’ participation stimulated the Dar es Salaam Stock Exchange (DSE) on Tuesday this week after transacting billion shilling mark turnover since the start of this year.
Dar es Salaam. Foreign investors transacted Sh3.9 billion worth of Tanzania Breweries Limited (TBL) shares on Tuesday this week, making it the first billion mark transaction to be recorded since the start of the year.
The amount was 98 per cent of the total number of market transactions during the day. The market report shows that a total turnover of Sh3.9 billion was recorded during the day, following a transaction of 342,462 shares in 19 deals.
Foreign investors injected Sh3.94 billion through buying shares, which was 99.35 per cent of the value of shares bought and Sh3.91 billion through selling shares (99.10 per cent) of the value of all shares sold.
However, the company shares were sold at a low price ranging between Sh12,000 and Sh12,500 higher than the opening price of Sh12,900. Other active counters during the day reviewed were CRDB bank, DSE, TCCL and TICL. They all recorded a combined turnover of nearly Sh7 million.
Total market capitalisation fell to Sh19.3 trillion on Tuesday, this week, from Sh19.5 trillion recorded on Monday this week.
Domestic firms’ market capitalisation also fell to Sh9.5 trillion on Tuesday this week from Sh9.6 on Monday.
The slowdown in market capitalisation was a result of decreased share prices for both cross-listed and locally-listed companies.
