Dar bourse turnover jumps 150 percent
What you need to know:
- A total turnover of Sh11.66 billion was realised last week. This was a huge improvement compared to Sh4.68 billion that was recorded in the week that ended on February 4
Dar es Salaam. Turnover at the Dar es Salaam Stock Exchange (DSE) advanced by 148.9 percent last week, thanks largely to increased participation by foreign investors.
A total turnover of Sh11.66 billion was realized last week. This was a huge improvement compared to Sh4.68 billion that was recorded in the week that ended on February 4.
Foreign investors injected over Sh9.89 billion into the DSE activities last week. This represents 84.82 percent of the total turnover, according data compiled by brokerage firm Vertex International Securities.
Tanzania Breweries Plc dominated the market, accounting for 85.72 percent of the total turnover. Other active trading counters were CRDB Bank Plc and TOL Gases.
The Vertex’s chief executive officer, Mr Mateja Mgeta, exuded confidence that the ongoing improved performance at the DSE would proceed going forward.
“The Domestic Equities Market recorded a positive performance on the back of last week’s momentum. We forecast the trend to continue next week as we anticipate price movements on a few financial and industrial counters,” he said.
However, the volume of shares traded last week dropped to 4.42 million shares from the 8.7 million traded in the week to February 4.
NMB Bank Plc emerged the top gainer after it shares price rose by 9.65 percent, to close at Sh2,500 apiece. The price of a Jatu share gained by 1.35 percent - and closed the week under review at Sh375.
The total market capitalization decreased by 0.09 percent - to Sh16.11 trillion while domestic market capitalization increased by 1.01 percent, rising to Sh9.86 trillion.
The All Shares Index (DSEI) decreased by 0.09 percent - closing at 1,933.46 points - while the Tanzania Shares Index (TSI) increased by 0.99 percent, closing at 3,728.85 points.
