DSE turnover down, share sales up

Monday January 17 2022
DSE pic

A man stands by the bill board of the Dar es Salaam Stock Exchange (DSE) in Dar es Salaam at a past event. The bourse started the new week with a dip on Monday compared to its Friday performance. PHOTO | FILE

Dar es Salaam. Turnover at the Dar es Salaam Stock Exchange (DSE) was down last week as a rise in share sale on low priced equities could not effectively compensate for lower activity at some blue chip counters, market data shows.

The bourse recorded a total turnover of Sh1.16 billion from 2.05 million shares traded last week.

This was a significant drop in turnover from Sh2.56 billion that was recorded the previous week when some 1.18 million shares exchanged hands.

NMB emerged as top market mover, accounting for 51.13 percent of the total market turnover while CRDB Bank Plc came second with a 44.24 percent contribution to the week’s turnover.

Foreign investors accounted for 56.99 percent of last week’s trading.

Jatu Plc’s shares gained to close last week at Sh385, according to a weekly review by Vertex International Securities Ltd.

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The firm’s shares started the year on low note, closing the first week of 2022 with a price of Sh370 per share.

NMB Bank Plc’s share price gained by 1.83 percent and closed at Sh2, 220.

At the end of the trading session on Friday January 14, 2022 the market size for domestic firms measured by the domestic market capitalization surged slightly by 0.21 percent to Sh9.56 trillion.

The Banks, Finance and Investment (BI) Index closed at 2,580.32, 0.98 percent, thanks to gains on the NMB counter.

The Industrial and Allied (IA) Index closed at 4965.29 points, 0.01 percent up, mostly due to improvement of Jatu share price.

Other market performance indicators also diverged resulting in the mixed performance of the Dar es Salaam Stock Exchange (DSE).

“The equities market recorded a mixed performance this week as turnover, volume and prices diverged from each other. We expect the performance to improve next week,” said the capital markets manager for Vertex, Mr Ahmed Nganya