14 January 2013

Tanzania: Dar es Salaam Bourse Turnover Rises

MARKET turnover at the Dar es Salaam stock Exchange (DSE) increased significantly to 860m/- last week, equivalent to 622.6 per cent gains compared to 119 million recorded the previous week.

During the period under review, shares traded rose to 1,170,110 shares compared to the previous period where only 202,530 shares changed hands.

The week's increase in turnover and volume, according to the Tanzania Securities Limited (TSL), was mainly supported by NMB counter that accounted 63 per cent of the total turnover and 41 per cent of the week's volume.

The Dar es Salaam Stock Exchange All Share Index (DSEI) closed 0.30 per cent lower at 1,485.02 points while the Tanzania Share Index (TSI) ended the week at 1,427.86 points, a 1.32 per cent down due to CRDB and TBL counters' losses to end the period 170/- and 2,800/- respectively.

The banking segment Index strengthened, a 1.15 per cent up ending the week at 1,226.61 points on the backdrop of a gain posted on the CRDB counter by 3.03 per cent. However, the Industrial Index decreased from previous period, pulled down by TBL by 7.14 per cent ending up at 1,680.41, a 2.62 per cent fall.

However, TCC counter gained by 1.9 per cent to 4,300/-. A total of 484,970 NMB shares exchanged hands compared to only 30,874 shares of the previous session. The counter saw support from foreign investors' accounting 92 per cent of the foreign investors' total turnover.

However, the counter prices remained flat during the week. "We foresee enhanced foreign investors' interests on the NMB and CRDB counters as they are few of the relatively good performing counters that have not exceeded foreign investors' limits.

Local investors support will continue to be on TBL, Twiga, Swissport and Simba counters," stated the report CRDB counter transacted a volume of 407,520 shares at a higher price of 172.50/- per share. The counter's price dropped slightly at the end of the week to close at 170/-.

The TOL counter generated a turnover of 50.9m/- from 195,799 shares that changed hands at 260/- per stock. Twiga counter transacted 53,491 shares with its price remaining flat. Simba traded 13,388 shares at 2,400/- per share. Swissport had 5,035 shares transacted at 1,720/-. Other counters traded during the week were, TTP and TCC with very minimal shares.

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