DSE sees Sh3.8bn turnover as foreign investors return

Dar es Salaam. Dar es Salaam Stock Exchange (DSE) recorded a total turnover of Sh3.82 billion on Wednesday after the return of foreign investors who rekindled trading at the market.
The market report shows that foreigners dominated both selling and buying sides of the market during the trading session.
A total of 822,187 shares were traded in 18 deals, according to the report.Much of the activities took place at the Tanzania Breweries Limited (TBL) counter which traded a block of 763,830 shares worth Sh3.81 billion in a prearranged market board.
Foreigners sold about 99.7 per cent of the shares.On the buying side they were also the majority after purchasing 89.5 percent of the shares valued at Sh3.42 billion while locals grabbed the rest.
During the day, other active counters at the bourse included CRDB Bank, DSE, and Tanzania Portland Cement Company (TPCC).
CRDB counter was a second market mover trading 58,030 shares at a weighted average price of Sh140 per share in seven deals.
The bank total turnover closed at Sh8.1 million.DSE counter had four shares traded at a weighted average price of Sh890 per share in two deals.
 The firms’ turnover was at Sh3,560.TPCC counter recorded a turnover of Sh678,640 after trading 323 shares at a weighted average price of Sh2,100 per share in two deals.
This was a significant comeback since foreigners purchase at the equities market has been declining since the outbreak of the Covid-19 pandemic due to the investors fear for global economic recession.
However, as countries figure out how to contain the pandemic and reopen businesses, foreigners’ demands in financial markets have also been rekindled.