12 November 2012

Tanzania: DSE Business in Year-End Slow Down

Dar es Salaam Stock Exchange's (DSE) brokers are anticipating a low to medium activity levels when the economy is heading toward Christmas and New Year festivals.

Traditionally, trading activities at DSE slow down during the end of the year as investors are busy engaging into end-year holidays pushing the bourse to almost a vacation. Tanzania Securities' stock analyst, Moremi Marwa, said the future outlook was forecast at low to medium trading actions because of the approaching holidays.

"(Trading may clamped down) as investors maintain cash reserves for end of year obligations and domestic spending for retail investors," Mr Marwa, who is also the CEO of Tanzania Securities said. The prediction follows, week average activity in the market to slow down compared to the previous weeks, despite registering a high volume on week-on-week that ended last Friday.

During the week DSE all share index (DSEI) appreciated by 0.21 per cent higher at 1,461.30 points while Tanzania all share index (TSI) closed the week at 1,306.21 points, a gain of 0.99 per cent. The gain was "supported by gains made in the Swissport 13.7 per cent and Twiga counters that gained by 5.6 per cent," the analyst said adding "CRDB recorded a loss of 2.17 per cent."

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