12 February 2013

Tanzania: Business At DSE Seen Impressive

BUSINESS activity at the Dar es Salaam Stock Exchange (DSE) improved significantly to 527m/-, equivalent to 107 per cent with shares traded increasing by 873 per cent to 2,879,216 compared to the previous week's where 255m/- was mobilised and 296,282 stocks transacted.

According to the Tanzania Securities Limited (TSL) weekly market commentary, foreign investors' participation during the week increased significantly to 81 per cent of the total turnover compared to only 21 per cent support recorded the previous period.

Indices were also in the green in line with late week recoveries where the Dar es Salaam Stock Exchange All Share Index (DSEI) settled at 1,490.14, a 0.11 per cent gain whereas the Tanzania Share Index (TSI) closed at 1,449.51, or 0.47 per cent up.

However, the banking segment Index weakened by 1.14 per cent to close the week at 1,224.34 points on the backdrop of losses made on the CRDB counters of 3.13 per cent from 160/- to 155/-. The Industrial and Allied Index strengthened by 0.93 per cent to close at 1,724.94 points buoyed by TCC and Swissport counters that gained to 4,500/- and 1,940/- respectively.

The banking segment moved 99 per cent of total market's activity and 89 per cent of the total turnover. Mainly as a result of increased support from foreign investors on the CRDB and NMB counters. The NMB remained flat during the week and CRDB lost from last week to close at 155/- per share.

The NMB moved 29,096 shares during the week, 31 per cent was on the back drop of foreign investors support. The CRDB counter moved a volume of 2,826,113 on a prearranged trade 157.50/-. "We foresee enhanced foreign position on NMB and CRDB counters whose foreign investors limit still provide a room.

Local investors support will continue to be on TBL, Twiga, Swissport and Simba counters," stated the report. Twiga counter was the most active transacting 10,322 shares with its price remaining unchanged. TBL maintained its local support to close the week at 2,900/- per share, moving a volume of 4,046 lower from 13,680 shares traded last week.

Swissport moved 4,762 shares gaining 200/- from 1,740/- last week to 1,940/-. Simba had 4,077 shares at 2,400/- per share. TCC counter traded 800 shares at 4,500/- from 4,320/- last week. The PAL, TTP and TOL did not see activity during the week. The counters' prices remained at 460/-, 440/- and 260/- respectively per share.

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