DIVIDEND declarations by some listed stocks bolstered activities at the Dar es Salaam Stock Exchange (DSE) last week, the situation that will attract more investment from both domestic and foreign investors.
The week under review saw the industrial sector contributing about 45 per cent of the turnover that was generated particularly from Twiga, TCC, TBL, Simba and Swissport counters.
According to Tanzania Securities Limited (TSL) weekly market commentary, TCC and Twiga have recently declared their dividends and this week Tanga Cement followed.
"Looking ahead we anticipate more activities on the bourses from both local and foreign investors taking position particularly on the NMB and CRDB counters," stated the report. The week on week turnover improved to 716m/-, which is 25.4 per cent increment from 571m/-.
However, both indices closed in red where the Dar es Salaam Stock Exchange All Share Index (DSEI) lost to 1,834.86 points, or 1.91 per cent down while the Tanzania Share Index (TSI) declined to 2,936.72 points or 0.32 per cent down.
Foreign investors contributed 7.6 per cent of the week's total volume, by purchasing 20,389 NMB shares. The Banking segment Index weakened by 1.57 per cent to close the week at 2,578.58 points pulled down by the loss made on the CRDB counter by 4.84 per cent.
The Industrial and Allied Index strengthened 0.31 per cent to 3,541.11 points buoyed by TCC counter that gained 1.01 per cent to close at 10,000/-.
The banking segment contributed 55 per cent of the total week's turnover with CRDB bank being the most active counter on the bourse, although it witnessed a decrease in price to 295/-.
The counter traded 462,083 shares. The NMB had 92,023 shares that changed hands during the week at a price of 2,660/- per share. In the Industrial Segment, Twiga was the most active counter trading 26,386 shares during the week at prices of 2,500/-, 2,480/- per share.
TBL followed with 15,222 shares transacted at a price of 8,000/- per share. Simba counter traded 7,900 shares at a price of 2,480/- per share. Swissport counter transacted 4,700 shares at a price of 2,700/- per share.