BUSINESS at the Dar es Salaam Stock Exchange (DSE) dropped significantly last week as investors focused on the Dar es Salaam International Trade Fair (DITF) that ended on Tuesday.
According to Ms Brenda Massay, an analyst with Tanzania Securities Limited, brokerage firm, turnover and activity level of the bourse were south bound in the week.
Activity levels were significantly weaker with week on week, turnover plunged to 979m/- (-58.84 per cent) as shares traded decreased by 86 per cent to 522,214 compared to the previous week's, 2.379bn/- in turnover and 3,825,602 shares transacted.
However, despite ending on bearish trend, both indices closed in green with the DSEI settling at 2,238.31 (+2.97 per cent) whereas the TSI closed at 3,597.85 (+0.95 per cent). There was no foreign investors' participation during the week. Tanzania has relaxed controls that limits foreigner participation at the stock market. Ms Massay said they expect activities at the bourse to pick up slightly this week.
The banking segment was less active last week compared to the previous week. It contributed 74 per cent of the total turnover and 90 per cent of the market activity. CRDB maintained its lead with a volume of 298,254 shares traded at prices of 320/-.
NMB counter traded 154,490 shares at prices of 3,990/- and 4,000/-. DCB's price remained flat at 480/-, as the counter moved a volume of 19,130 shares. The Industrial and Allied Segment was illiquid compared to the previous week and contributed 26 per cent of the total week's volume and 10 per cent of the total week's turnover.
Under the segment Twiga was the most active counter trading 22,280 shares at a price of 2,320/-. It was followed by TBL which closed the week at 9,900/- with 20,496 shares transacted.
TOL counter had 8,400 shares that exchanged hands at a price of 490/- per share. Simba counter traded 4,000 shares at prices of 2,400/- and 2,420/-. Swissport counter traded 300 shares to close the week at 2,640/-.
There were no activities on the TCC, Tatepa and Precision Air counters during the week.