Tanzania Daily News (Dar es Salaam)

Tanzania: Business Picks Up At DSE During First Week

THE first week of January 2013 witnessed increased business activities at the Dar es Salaam Stock Exchange (DSE), after thin trade during the festive season.

DSE recorded a turnover of 119m/-, which is 95 per cent gain compared to only 61m/- collected in the previous session. "End of festive seasons as well as low inflationary pressure in the market could have contributed to the positive performance of the bourse in the first week of 2013," said Mr Moremi Marwa, the Tanzania Securities Limited (TSL) Chief Executive Officer.

He added: "We foresee relatively better performances in the market in the first week of the 2013. It has shown some light in various counters apart from the impact of the just ended festive season and expected social obligations as schools open in the next few weeks."

According to the TSL weekly market report, activity levels also improved where 202,530 shares were transacted, a 19 per cent gain in comparison to 170,996 shares which changed hands. All indices closed the week in green.

The Tanzania Share Index (TSI) settled at 1,446.95, which is 3.18 per cent gain while the Dar es Salaam Stock Exchange All Share Index (DSEI) closed at 1,489.53, about 0.71 per cent higher. Banking segment index strengthened further by 3.59 per cent to close the week at 1,212.61 points due to CRDB's price gain.

During the period, banks accounted for 88 per cent of the week's total volume traded and 49 per cent of the market value. The CRDB's price started the week higher at 155/-, the counter ended with the same drive to close the week at 165/- per share, with 147,020 shares traded.

"CRDB is expected to continue going up as demand from both local and foreign investors indicates an increasing interest on the counter. There is also continued interest on the NMB, TBL, Twiga and Swissport as reflected by increased price on the counters.

The NMB counter transacted a volume of 30,874 shares during the week at a flat price of 1,120/- per share. The counter's commanded about 59 per cent of the total turnover. TBL counter traded 9,200 shares higher than last week's 200 shares.

The counter gained 200/- to end the week at 3,000/- per share. Swissport counter transacted 8,954 shares at 1,720/- per share. TCC saw some activity ending the week, 1,000 shares transacted with its price gaining to 4,220/- per share. Other counters traded during the week were Simba and Twiga with 5,082 and 400 shares respectively at flat prices.

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