25 July 2017

Tanzania: DSE's Trading Volume Up 7 Percent

DAR ES SALAAM Stock Exchange (DSE) trading volume has gone up by 7.0 percent from 3.9bn/- to 4.1bn/-for the week ended last Friday, thanks to CRDB Bank share price appreciation and movement.

DSE's Senior Marketing Officer Mary Kinabo attributed the increase to market strengthening and investors' rising appetite that pushed up CRDB share price by 5/- to 205/-.

The leading companies in stock sales were CRDB, controlling 57 percent, TBL 33 percent, and Swissport 3.0 percent, Ms Kinabo said.

She said number of shares exchanging hands declined by 29 percent from 17m/- of previous week to 12m/- of a week ending last Friday. Also market capitalization went down by 666bn/- from 19.2tri/- to 18.5tri/- of last Friday.

Ms Kinabo said the decline was due to the decrease of Kenya Airways stock price by 28 percent, Acacia Mining 16 percent and Tanga Cement 15 percent.

For market cap for domestic companies also slide to by 18bn/- from 7.72tri/- to 7.7tri/- of last Friday.

The DSE marketer attributed the drop to Tanga Cement stock price drop by 15 percent, DCB Bank and Twiga Cement 1.0 per cent each.

On bonds market the trend also was on bearish mode after decreasing from 44.3bn/- to 35.2bn/-.

DSE index (DSEI) went down by 76 points from 2,211 points to 2,134 points affected by various declining of stock prices the bourse experienced last week.

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