Bourse turnover up by over 158pc
The Dar es Salaam Stock Exchange (DSE) total market turnover rose by 158.61 per cent last week. PHOTO | FILE
Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) total market turnover rose by 158.61 per cent last week, a huge improvement stimulated by the entrance of foreign investors, market report shows.
The equities market recorded a turnover of Sh973.65 million in the week ending April 5, 2019 a huge improvement compared to Sh376.49 recorded in the week ended March 29.
The sharp rise of the turnover was due to entrance of foreign investors who injected the market with over Sh884.57 million (90.8 per cent) of the total turnover, according to the Zan Securities weekly market wrap-ups.
CRDB Bank Plc continued to dominate the market with 64.46 per cent of the total turnover, followed by DSE Plc with 25.38 per cent and Tanzania Portland Cement Company (TPCC) with 5.56 per cent.
“The equities market showed a huge improvement in turnover compared to last week. As we enter the second quarter, we anticipate further improvement in turnover and prices,” the report stated.
The volume of shares traded last week increased to 5. 29 million shares from 1.75 million traded in the week to March 29.
On the period under review NICO, was the only counter to record a movement, gained 3.03 per cent to close at Sh170.
Moreover, Total Market capitalization also increased by 0.85 per cent, closing at Sh20 trillion.
Last week DSE indices closed at a mixed trend Tanzania share index (TSI) closed at 3,483.00 points All Share Index (DSEI) gained 0.85 percent to close at 2,077.72 points.
