EQUITIES performance at the Dar es Salaam Stock Exchange (DSE) is expected to drop in terms of turnover, volume and prices due to Christmas and year end festivals.
DSE will remain closed today and tomorrow as well as Wednesday, next week. Investors are also likely to stay away from the bourse due to year-end obligations.
The DSE sustained its bullish trend last week where performance indicators went to different directions compared to the previous session.
Market turnover went up by more than 300 per cent to 80.15bn/- compared to that of the previous week. TBL led the most traded shares chart, trading 9.26 million shares worth 79.2bn/-.
Over 98 per cent of the turnover was contributed by TBL purchased by local investors at between 8,000/- and 8,500/- per share.
"The performance was largely due to increased demand for equities following attractive dividend payouts expectations and stability of the company for the last two years," commented Mr Raphael Masumbuko, Zan Securities Chief Executive Officer.
During the week, foreign purchase increased by 138 per cent to 641m/- compared to 268.89m/- of the previous session. Consequently, on a weekly comparison, key benchmark indices sustained the downward trend as sentiments stayed negative.
The Tanzania share index (TSI) capped at 2,842.89 points closed low by 0.07 per cent compared with the 2,844.86 points posted a period earlier, while all share Index (DSEI) closed at 1,835.17 down by 0.22 per cent compared with the 1,839.27 points recorded a week earlier.
The Industrial and Allied index sustained downward trend by 0.56 per cent while Bank, Finance and Investment index recoded increasing trend by 0.94 per cent. Commercial Services index posted a decrease of 0.42 per cent during the week under review.
DSE Market capitalisation declined by 0.57 per cent to close at 16.19tri/- similarly domestic capitalisation dropped by 0.05 per cent.
According to the Tanzania Securities Limited (TSL) weekly market commentary, banking segment Index strengthened to settle at 2,510.88 points, 0.93 per cent up from last week's 2,487.43 points. The Industrial and Allied Index went up to 3,413.43 points from last session's 3,432.63 points, a 0.56 per cent up.
CRDB counter was mainly supported by foreign investors to trade 1,825,820 shares closing the week at 280/- per share. NMB counter transacted 143,363 shares at 2,540/-, 2,600/- and 2,620/-. About 35 per cent of the counter's turnover was from foreign participation.
Swissport followed with 9,670 shares traded at 2,680/- and 2,700/- per share. Twiga had 9,586 shares at 2,660/- per share. Simba traded 5,970 shares at 2,000/- and 2,300/- per share. The counter lost 340/- from last week's price of 2,340/-.