Dar es Salaam. Turnover at the Dar es Salaam Stock Exchange (DSE) surged by 168 percent last week as foreign investors snapped up CRDB Bank Plc and NMB Bank Plc shares.
Weekly turnover rose to Sh1.27 billion last week from Sh510.05 million that was registered during the preceding week.
An analysis by Vertex International Securities Ltd indicates that CRDB Bank Plc was the top market mover, recording 54.86 percent of total market turnover.
It was followed by NMB Bank Plc with 41.07 percent while Jatu Plc came a distant third.
The volume of traded shares also increased from 670,000 the previous week to over 3.5 million last week.
“The equity market echoed our last week’s sentiment where we expected financials to create momentum. CRDB and NMB counters were at the centre of improved turnover and volume,” Vertex said.
Going into the new week, brokers anticipate that the performance would continue with positive momentum.
The market capitalisation for all the 28 listed companies – as measured by market capitalisation – decreased by 1.15 percent to Sh16.06 trillion.
On the other hand, however, domestic market capitalisation – which puts into consideration the value of domestically-listed equities only – increased by 0.01 percent to Sh9.48 trillion, thanks to gains by Jatu and self-listed DSE Plc.
Jatu gained 10.61 percent to close at Sh730, while DSE Plc gained 8.33 percent to close at Sh1,300 per share.
With the recent report of ballooning loss, Simba Cement stocks dipped 6.54 percent to close the week at Sh500, while Nicol fell marginally by two percent to close at Sh245.
At the end of Friday’s trading session, the market’s All Shares Index (DSEI) lost 1.15 percent to close at 1,926.98 points, while the Tanzania Shares Index (TSI) gained 0.01 percent to close at 3,586.54 points.
Banks, Finance and Investment (BI) closed at 2,412.11, 0.11 percent up as DSE price increased, while Industrial and Allied (IA) closed at 5,004.63 points, which is 0.01 percent down due to the price drop of Simba Cement.
Commercial Services (CS) closed at 2,138.49 points, the same as last week.