U-turn for Jatu as trading at Dar bourse slows down

Dar es Salaam. Jatu counter changed direction last week after a losing trend it experienced in the past few weeks.

The agri-business company, which was listed on the Dar es Salaam Stock Exchange (DSE) last November, was a top gainer in the bourse last week after increasing its share price by 32.53 percent to Sh1,100 on Friday, according to a weekly market summary by brokerage firm Zan Securities.

The self-listed DSE was also among the weekly gainers after a 4.17 percent increase to Sh1,000 per share.

The bourse’s equity market slowed after a weekly turnover dropped by 88.1 percent to Sh351.23 million.

CRDB was a top market mover accounting for 35.79 percent of the total turnover followed by TBL and DSE with 32.60 percent and 24.18 percent respectively.

“The equity market performance continued with the downward trend this week mainly due to surge in investors’ interest in the Treasury Securities, particularly the 20-year bond. We expect a few improvements next week,” said Zan Securities chief executive officer Raphael Masumbuko in the weekly wrap-up.

The participation of the foreign investors dropped by 82.13 percent last week to just Sh123 million, according to the report.

Total market capitalisation recorded an increase of 1.14 percent to Sh15.39 trillion while domestic market capitalization decreased by 0.38 percent to Sh9.23 trillion.

The key benchmark indices closed the week with mixed directions with the Tanzania Share Index (TSI) going down by 0.38 percent to 3,508.81 points. On the other hand, the All Share Index (DSEI) increased by 1.14 percent to close at 1,852.90 points

On the sector indices closed, the Industrial and Allied Index (IA) closed at 4,816.97 points, 0.01 percent up while the Bank, Finance and Investment Index closed down by 1.84 percent to 2,420.04 points.

The Commercial Services Index closed at 2,139.33 points – the same as the week before.