DSE buoyant after latest shares trade

Dar es Salaam. Foreign investors made a comeback to the Dar es Salaam Stock Exchange (DSE) last week, registering two block trade transactions at the Vodacom Tanzania Plc counter.

Analysts are now painting a bullish outlook for the bourse during the coming few weeks following the coming dividend announcements.

In the week that ended on Friday, April 16, 2021, DSE recorded a total weekly turnover of Sh2.34 billion, an increase of 13.53 percent compared to the Sh2.06 billion trading the preceding week.

Foreigner investors injected over Sh1.8 billion, which is 77 percent of the total weekly turnover, available market data show.

“We forecast the equity market to overcome this week’s decline in volume and turnover and to record a positive performance next week as dividend announcement nears,” said the brokerage firm Vertex International Securities Ltd.

Brokers stated that stakeholders are optimistic that there will be an interesting breadth of reports in next weeks’ and plenty of news to grab investors’ attention in the coming weeks as the dividend announcement nears. Last Wednesday, foreign investors injected Sh800 million at the Vodacom counter, after trading a block of two million shares.

The next day, the counter transacted 2,356,783 shares valued at Sh942.79 million, these were mostly bought by foreign investors.

CRDB Bank Plc was yet another market mover during the week, as it transacted one million shares valued at Sh254.45 million, bought by local investors. This is according to the bourse’s Friday’s report.

The lender contributed 22.24 percent of the weekly total turnover according to Vertex.

Total Market capitalization continued to climb, closing at Sh15.74 trillion (a weekly increase of 1.43 percent) as some of the stocks prices appreciated.

Top gainers were DSE by 3.77 percent and Nicol by 2.63 percent closing at Sh1, 100 and Sh195 respectively.

Top losers were CRDB Bank Plc by 6.52 percent and JATU which lost by 5.95 percent. The two counters closed the week at Sh215 and Sh1,580 respectively.

This sent the domestic market capitalization down to Sh9.21 trillion, being 0.42 percent less than what was registered during the previous week.

All shares index (DSEI) gained 1.43 percent to close at 1,895.48 points, while Tanzania Shares Index (TSI) closed at 3,503.06 points, 0.42 percent down.