14 February 2017

Tanzania: Bourse Down Sh2 Billion Over Liquidity Woes

Dar es Salaam — Turnover of the Dar es Salaam Stock Exchange (DSE) declined by 85 per cent last week as brokers report limited supply of equities and low liquidity in some counters.

The week-on-week turnover dropped to Sh406.4 million compared with Sh2.5 billion recorded previously, according to weekly market reports.

A total of 373,568 shares were transacted, down from 867,744 shares traded in the previous week.

However, the brokers remain upbeat over the market performance especially on the local listed firms.

"Investors should use this time to build positions because there is positive expectation especially from Industrial and Allied and Banks, Finance & Investment mainly from local listed companies," said Zan Securities in its weekly report.

"We anticipate more activities in both segments in the coming week with the continued presence of local investors particularly taking position in the CRDB and TBL counters," stated Tanzania Securities Ltd in its weekly commentary. Top trading equities that dominated the market share during the week were Tanzania Breweries Ltd (TBL) at 64 per cent, followed by the CRDB Bank PLC at 13 per cent, Swissport (Swiss) at 4 per cent and the self-listed Dar es Salaam Stock Exchange (DSE) at 3 per cent.


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