8 May 2019

Tanzania: Acacia Share Price Bounces Back After Plunging in April

Dar es Salaam — Acacia mining company share price at the Dar es Salaam Stock Exchange (DSE) has improved during the first week of May after the company hit its lowest level at the end April.

Due to the improvement in the share price, the company managed to gain nearly Sh57.41 billion in market capitalisation, according to DSE market reports.

On April 30, Acacia counter at the Dar bourse closed at Sh4,200 per share lower than Sh5,950 recorded in March, this year. However, from the start of May the company share price has been improving steadily.

According to the DSE report, the company's share price closed at Sh4,340 on Monday, pushing the market cap to Sh1.77 trillion from Sh1.72 trillion tabled in April 30.

Acacia was the only gainer on Monday while Jubilee Holdings Ltd (JHL) was the only counter, whose share price closed in red at Sh9,250 from Sh9,550 of last week. At the London stock exchange where the company was initially listed, the share price remained at GBX145.7.

During the day of review, the DSE recorded a total turnover of Sh81.83 million from 376,954 shares traded in 41 deals.

CRDB traded 365,655 shares at weighted average price of Sh130 per share in 15 deals.

The DSE counter had 100 shares traded at Sh1,280 per share in one deal. NICO traded 412 shares in four deals at Sh170 per share.

The NMB counter traded 2,970 shares in a single deal at weighted average price of Sh2,000 per share. The SWIS counter, which had 10 shares, traded them at Sh1,660 per share in one deal.

The TBL counter had 1,450 shares traded at Sh10,000 per share in 15 deals while the TPCC counter had 6,190 shares traded in two deals at Sh2,220 per share.

For the Vodacom counter, 167 shares were traded in two deals at weighted average price of Sh700 per share.

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