The decline of businesses at the Dar es Salaam Stock Exchange (DSE) is attributed to the public expectations of the listing of the telecom firms next year.
So far, two telecom firms of Vodacom Tanzania and Tigo Tanzania have started initial process including the submission of prospectus to the Capital Markets and Securities Authority (CMSA). Also the DSE weekly report attributed the slowed businesses at the equity market to investors' social and quarterly tax obligations during year end period.
During the week, share trading dropped by 32 per cent. On the other hand, the DSE market capitalisation increased by 1.1 per cent to reach 19.6tri/- compared to 19.4tri/- of the previous week while domestic market capitalisation remained at 7.7tri/- as in the previous period.
During the week the bourse recorded a total turnover of 3.59bn/- posted from 437,723 sh
ares traded in 148 deals. Three local listed companies namely TBL, CRDB and MKCB emerged as top trading in buying and selling of shares by 66.5 per cent, 16 per cent and 8.3 per cent respectively.
On cross listed firms, the best performers were Uchumi Supermarket by 28.57 per cent, KCB 23.33 per cent, Kenya Airways 7.69 per cent and East African Breweries 4.28 per cent.
The worst performers during the week were NMG by negative 27.18 per cent, DSE 15.25 per cent, Jubilee Holdings 5.80 per cent and Acacia Mining 5.49 per cent. Banks, Finance and Investment Index experienced decline by 5 points due to the decline of DSE by 15.25 per cent.