17 September 2012

Tanzania: CRDB Bank, TBL Counters Dip DSE Indices

THE Dar es Salam Stock Exchange (DSE) all indices closed the week in the red on the backdrop of losses made by CRDB Bank and Tanzania Breweries Limited.

The Tanzania Share Index (TSI) dropped by 0.82 per cent to settle at 1,267.53 points while the DSE all share Index (DSEI) closed at 1,452.15 points after going down by 0.17 per cent.

According to Tanzania Securities weekly report, both Banking and Industrial indices were down on the backdrop of losses made in the CRDB and TBL counters that lost by 2.22 and 2.29 per cent, respectively.

"All other counters remained flat," the Tanzania Securities Analyst, Moremi Marwa, said in the report. Despite indices to head south, weekly turnover increased by 3.05 per cent to 506m/- compared to the previous week's turnover of 491m/-.

"Activity levels also improved slightly where 664,384 shares were transacted during the week in comparison to 632,146 shares traded the previous week," the weekly report shows.

The report indicates that Bank, Finance & Investment Sector (BI) accounted for 87 per cent of the week's total trade volume and 58 per cent of the market value. CRDB started the week at 115/- a share, however the counter lost ground later during the week to close in a low price of 112/50 per stock. As per other banks, NMB share price was flat at 960/- per share while DCB, despite a slight drop in activities, had its stock price remaining at the range bound of 620/-.

"Generally, the banking sector moved a significant volume of shares during the week compared to the industrial and allied (IA) sector," the report says. The market saw TaTePa slightly registering an interest from foreign investors where 2,700 shares were transacted during the week at 325/- each.

TBL was the leading counter during the week, transacting 48,884 shares though the price dropped by 2.29 per cent to close the week at 2,620/-. The counter accounted for 61 per cent of the total industrial turnover.

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