Tanzania: Dse Turnover Plunges Nine Times Within Week

DAR ES SALAAM Stock Exchange (DSE) market turnover plunged nine times in a week ending last Friday as investors seem to wait for third quarter financial results.

The equities market recorded a turnover of 15 6.44m/-against 1.17bn/- in the week before, the exchange statistics showed.

Zan Securities Chief Executive Officer Raphael Masumbuko said the equity market had less momentum last week as investors are anticipating third quarter results from financials.

"The equities market had less momentum this week (last week)," Mr Masumbuko said adding ".We think investors are anticipating third quarter results from financials".

Mr Masumbuko said through the stock brokerage's Weekly Market Wrap-Ups during the period, total market capitalization decreased by 0.25 per cent to 18.91tri/-.

On the other hand, domestic market capitalization remained the same at 9.027tri/-.

The key benchmark indices showed mix trend as Tanzania share index (TSI) closed at 3,278.09 points, same as the week before while All Share Index (DSEI) decreased by 0.25 per cent to close at 1,918.84 points.

The sector indices stagnated.

The Industrial & Allied Index (IA) closed at 4,3 94.5 7, same as the week before. Bank, Finance & Investment Index closed as a week before at 2,016.29 and Commercial Services Index closed at 2,369.12 points, same as last week.

On debt market, Mr Masumbuko said the auction results for five-year Treasury bond echoed their last week sentiment after forecast increases in price and oversubscription.

"We think the huge appetite for government securities will continue to drive prices higher," Mr Masumbuko said.

The banking sector dominates the list of DSE's listing firms on which 11 out of 28 are banks.

See What Everyone is Watching

More From: Daily News

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.