6 December 2017

Tanzania: CRDB, TBL Shares Start Week Strongly

Dar es Salaam — Tanzania Breweries Limited (TBL) and CRDB Bank shares trading started the week on high note after the dual recorded higher transactions.

The two companies opened the week by recording turnover of more than Sh1.1 billion each, which was more than 99 per cent of the daily transactions.

The Dar es Salaam Stock Exchange (DSE) daily report has shown that TBL had the highest transactions with Sh1.172 billion on Monday after transacting 88,885 shares at the price of Sh13,200 in eight deals.

Almost all traded TBL shares were transacted by foreign investors, who accounted for more than 98 per cent of the overall market transactions.

During the day under review, the company outstanding bids were 70 shares, while the outstanding offers were 6,960 shares. The market capitalization was remained flat at Sh3,893.06 billion.

CRDB which was the second highest performer on Monday after recording turnover of Sh1.170 billion, from the transaction of 7,318,078 shares at a price ranging between Sh155 and Sh160 per shares in 22 deals.

The report has shown that during the opening day of the week, the company had 1,695,783 outstanding shares on bid and 120,000 outstanding shares on offer. The market capitalization was Sh417.89 billion, the same as last week's close.

Market analysts said earlier that both companies are currently recording the highest shares transaction because of the price factor as investors feel that their prices were at the right margin.

The daily report showed that the market recorded total turnover of Sh2.344 billion of which Sh2.34 billion were contributed by foreign purchase and Sh2.29 contributed by foreign share sales.

Local investors participated the market in low note as they accounted for 0.66 per cent of the buying side value and 1.95 per cent of the selling side.

However, the total market capitalization was Sh20,956.19 billion on Monday, lower than Sh21,256.32 recorded during the last week's close. This is due to fall of shares prices for Uchumi Supermarket, Acacia, EABL, JHL and KCB.

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