26 March 2013

Tanzania: Dar es Salaam Bourse Registers Vibrant Business

TRADING activity at the Dar es Salaam Stock Exchange (DSE) increased largely supported by vibrant business as well as pre-arranged transactions at some counters.

The week under review saw turnover and volume of shares which changed hands rising significantly to 844.2m/- from 297.5m/- of the previous session, while shares traded rose to 1,640,110 compared to 638,854 of the last market.

According to the Tanzania Securities Limited (TSL) weekly market commentary, the outstanding performances was supported by pre-arranged transaction on the TBL counter and more activity seen on the CRDB and NMB counters.

TBL counter was the most active counter among the Industrial and Allied sector this week transacting 81,695 shares supported by foreign investors by 73 per cent although its share price dropped by 20/-.

The Industrial and Allied Index strengthened to 1,886.97 points, a 1.03 per cent gain supported by TCC, Twiga and Swissport counters that gained 240/-, 20/- and 80/- per share respectively during the week. Twiga maintained its local support to close the week at 2,620/- per share, a rise of 20/- while moving a volume of 9,983 shares.

TCC counter followed with 1,915 shares that gained Tshs.240 per share. Simba counter had 3,441 shares traded at a range of 2400/- per share. Swissport traded 922 shares at 1900/- per share. There were however no activities on TTP, TOL and Precision Air during the week.

The Banking segment Index settled 1,342.95 points, which is 2.49 per cent stronger than previous session on the backdrop of gains made on the CRDB and NMB counters which gained by 0.3 per cent and 3.17 per cent respectively.

The banking segment moved 94 per cent of total market's activity and 64 per cent of the total turnover, mainly as a result of increased support from foreign investors on the CRDB and NMB counters. NMB counter gained by 40/- to trade at 1, 300/- per share in compared to previous period.

NMB accounted for 62 per cent of the total turnover with 260,234 shares traded on the counter supported by foreign investors' participation which accounted for 66 per cent of the turnover. CRDB counter gained 2.5/- to end the week at 162.5/- per share from 160/-.

The counter accounted for 38 per cent of the total turnover and 83 per cent of the banking segment activity. A total of 1,281,786 shares changed hands with foreign contribution on the counter 34 per cent of the turnover.

Indices continued with the recovery and rally with modest gains for both Dar es Salaam Stock Exchange All Share Index (DSEI) and the Tanzania Share Index (TSI). The DSEI closed 0.37 per cent higher at 1,522.15 points while the TSI ended the week at 1,584.88 points, a gain of 1.52 per cent.

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