Tanzania Daily News (Dar es Salaam)

25 August 2014

Tanzania: DSE Market Index Trade in Positive

MARKET breadth on the Dar es Salaam Stock Exchange (DSE) last week remained positive and trading volume was running about 1254 per cent above the previous session to 29.8 million shares from 2.2 million shares.

According to Zan Securities Limited weekly market wrap-ups, a total of eight equities recorded price movements with two declining and six advancing. Local participation increased by more than 1058 per cent by recording a total turnover of 23.7bn/-.

TCC stood tall as the most traded equity for the week, accounting for 46.8 per cent of turnover. Twiga led the gainers with a 17 per cent price appreciation, followed by Simba 7.4 per cent high.

Total market capitalisation decreased by 0.46 per cent to 21.14tri/- but domestic market capitalisation increased by 0.25 per cent to 9.04tri/- compared to a week earlier. The Tanzania share index (TSI) closed high by 0.98 per cent compared with the 4229.42 points posted a week earlier.

The All Share Index (DSEI) closed low by 0.97 per cent compared with the 2434.98 points posted before. Industrial and Allied index sustained upward trend by increase of 0.89 percent this was manly due to Twiga, Simba and TCC price increase by 17, 7.4 and 0.2 per cent respectively. Banks, Finance and Investment index recorded increase trend by 1.08 per cent.

Commercial Services index recorded north direction manly due to Swissport price climb by 3.7 per cent during the week under review. During the week Swissport and Twiga published an impressive half year financial results for the period ended 30th June 2014.

Twiga earning per share went up by 41 per cent to 151/- and Swissport earnings growing in line with dividend per share of 39 per cent.

"We remain long-term positive on the outlook for the market performance especially from Industrial and Allied and Commercial Services mainly from recently realised half year results and we therefore maintained our 'BUY' recommendation," stated the report.

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