13 May 2014

Tanzania: Business At Dar Bourse Picks Up

THE turnover on Dar es Salaam Stock Exchange (DSE) rose 21.32 per cent to 913m/-, from 789m/- with much support of NMB and CRDB Bank activities that contributed 35 per cent of the week's value.

Much market recovery is expected in the coming weeks, most particularly from banks, finance investment sector.

According to Weekly Wrap-ups produced by the Zan Securities Limited, the DSE All share index went down by 12.27 points or 0.6 per cent and closed at 2,028.41 points while the local shares index (TSI) ended in the green by 0.32 per cent.

The impressive earnings results and anticipated demand by investors should give the domestic market indices a lift. Stocks projected to catch the eye of investors based on their quarterly results expected.

The banks, finance and investment gained 25.71 points or 0.94 per cent to close at 2,773.99 while Commercial Services index and Industrial and Allied index remained flat during the week.

DSE market capitalisation decreased by 0.42 per cent to 17,955.00, inversely, domestic market capitalization went up by 0.32 per cent.

The weekly market report by the Tanzania Securities Limited (TSL) said shares traded during the week fell to 588,850 shares or 25.94 per cent down compared to 794,201 shares that changed hands in the previous period.

Banking segment Index strengthened by 0.94 per cent to close the week at 2,773.99 points on the backdrop of a gain posted on the NMB counter by 1.40 per cent.

However, the Industrial and Allied Index remained flat to close the week at 3,565.14 points.

The banking segment was more active compared to the Industrial segment the week under review after contributing 87 per cent of total turnover and 52 per cent of the market activity.

CRDB Bank counter was dominated by local investors to trade a volume of 242,074 shares at a price of 305/- and 310/-.

NMB counter traded 112,136 shares at a prices of 2,860/- and 2,900/- per share. Industrial and Allied segment's turnover was 13 per cent of the week's turnover. Volume was 48 per cent of the total shares traded this week.

TBL counter was the most active in the Industrial and Allied segment this week again. The counter traded 40,032 shares at 8,100/-. Simba counter followed with 32,600 shares transacted at prices of 2,480/- and 2,420/- per share.

Swissport counter had 1,497 shares that exchanged hands at a price of 2,700/- per share. TCC counter transacted 2,620 shares at a price similar to the previous week's 10,000/- .

Twiga counter had 19 shares traded at 2,460/- per share. There were no activities on the PAL, TOL and TATEPA counters during the week.

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