TBL stocks dominate trading as DSE performance improves

Monday December 13 2021
TBL pic

Last week, the number of traded shares increased by three percent - to 770,000 - compared with the previous week’s 750,000

By Josephine Christopher

Dar es Salaam. The shares of the TBL Group (TBL) dominated trading at the Dar es Salaam Stock Exchange (DSE) last week, when the bourse also experienced improvement in its performance.

The brewer accounted for 56.06 percent of the weekly turnover that gained by 2.7 percent last week, rising to Sh893.2 million.

According to DSE reports, local investors purchased the TBL shares in blocks at a discounted price.

TBL was followed by the NMB Bank - which accounted for 15.28 percent - Tanzania Portland Cement Company (14.09 percent), and CRDB Bank (9.71 percent). This is according to an analysis by the brokerage firm Vertex International Securities Ltd.

The total number of shares traded last week increased by three percent last week, rising to 770,000 compared to the 750,000 shares recorded in the preceding week.

On Wednesday last week, local investors grabbed 102,000 TBL shares on a pre-arranged market board at a discounted price of Sh4,900 per share, while the counter price stood at Sh10,900!

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Vertex International Securities’ capital markets manager Ahmed Nganya said both turnovers and volumes increased, while prices movement continued - albeit at a few trading counters.

“We expect this momentum to continue next week,” Mr Nganya said - adding that market participants were optimistic that the prices momentum would continue to boost other indicators, and influence the upward trend.

In the period under review, the top-gaining counters were Simba Cement - which gained by 20 percent, to close at Sh940 - Jatu Plc (a 3.45 percent, to close at Sh450) and NMB Bank, which gained by two percent to close at Sh2,040.

Laggards were the self-listed DSE, which lost 7.69 percent to close at Sh1,200, and Twiga Cement, which lost 2.94 percent, closing at Sh3,300.

As a result of the price movements, DSE’s total market capitalisation fell to Sh15.34 trillion: 0.30 percent down. Domestic market capitalisation increased to Sh9.3 trillion: 0.09 percent up.

Other key performance indicators closed with mixed trend, with the All-Shares Index (DSEI) losing 0.30 percent, to close at 1,841.34 points. The Tanzania Shares Index (TSI) increased by 0.09 percent, to close at 3,520.21 points.