Dar bourse turnover up on block trading transactions

Dar es Salaam. The equity market gained last week, thanks to the comeback of foreign investors who participated in block trading transactions.

The turnover rose to Sh2.59 billion last week, a significant rise from the Sh250.55 million recorded in the previous week.

Foreigners injected over Sh2.11 billion, to account for 81.37 percent of the total weekly turnover, market data shows.

According to Vertex International Securities Ltd, there were two block transactions at the Vodacom and TBL trading counters. Vodacom emerged as the top market mover after trading a block of 3,015,053 shares valued at Sh1.2 billion on Wednesday last week, while TBL came second after foreign investors grabbed 241,208 shares valued at Sh1 billion on Friday, September 17, 2021.

However, the increase in turnover and volume of shares traded during the week did not result in any positive price movements.

According to Zan Securities Limited, the price movement was recorded on two domestic traded equities.

Unfortunately, both movements were downwards as Jatu share price depreciated by 21.36 percent to end the week at Sh810 per share while CRDB lost 1.96 percent of its value to close at Sh250 per share.

The total market capitalisation gained by 0.76 percent, rising to Sh16.58 trillion and domestic market capitalisation went down by 0.18 percent to close at Sh9.56 trillion.

By Friday, the index on the performance of all listed firms closed up by 0.76 percent - at 1,989.64 points - while that of local listed firms, the Tanzania Shares Index (TSI) closed at 3,615.98 points, a 0.18 percent drop.

Industrial and Allied Index (IA) closed at 5,007.98 points, down by 0.08 percent, Bank, Finance and Investment Index closed at 2,505.06 points, down by 0.65 percent, while Commercial Services Index closed at 2,138.49 points - same as the preceding week.