I N 174 deals the bourse this week was able to transact a total of 2.6 million shares that generated a turnover of TZS 1.3Bln ($0.56Mln) for the week.
This goes without saying the week under review only consisted of three (3) trading sessions. Hence the turnover generated for the week is 65% lower than TZS 3.37Bln that was generated on the previous week.
The bourse this week has also hinted on bearish mode as previous week, both market indices The AllShare Index (DSEI) and Tanzania Share Index (TSI) recorded downward movement, meaning both local and cross-listed counters declined week to week.
The DSEI lost some 15.54 points equivalent to a mere 0.83% decline, while the TSI shed some 4.64 points which is same as a 0.12% decline.
The domestic counters responsible for the decline this week, include NICO which went down 9.88% transacting only about 15,360 shares generating TZS 5.6Mln. DCB and TPCC both went down this week also, declining by 5.26% and 1.12% respectively. 37,029 DCB shares were enough to change the price for the counter, while about 10,426 TPCC shares were enough to push down the counter's price.
On the other hand, setting new records for the week was JATU stock, which at one point appeared to have lost investor's trust, has appeared to be recovering strongly.
This week the counter was the top gainer, rallying by about 19% from TZS 260 to TZS 310 per share. The counter transacted a total of 1,200 shares that generated a total of TZS 359,000 only.
Simba cement (TCCL) was also among the few gainers of the week, the counter went up by 1% from TZS 1,800 to TZS 1,820.
On the cross-listed counters things were on the red, NMG alone recorded a 10% decline in share price value from TZS 450 at the start of the week to TZS 405 at week's close.
Following closely was EABL and KCB stocks which both went down 3.5% and 1.37% respectively from TZS 2,860 to TZS 2,760 per share for EABL and from TZS 730 to TZS 720 for KCB. The rest of the cross-listed counters remained unchanged while recording zero activity on the DSE bourse.
This week's activity was dominated by the local investors, as opposed to previous week. The locals bought shares worth TZS 1.25Bln about 95% of total turnover while foreign investors only accounted for about TZS 60Mln. The sell side also with similar pattern to the buy side was dominated by local investors.
Locals sold shares worth TZS 1.3Bln about 99% of the total market turnover, leaving about 1% of the turnover that was consumed by the foreign investors.
TOL gases (TOL) this week accounted for over half of the stock market activity. The counter through a pre-arranged block transaction, exchanged bout 1.1 million shares worth TZS 604.78Mln making it the top mover for the week.
Money Market This week the government through the central bank, hosted a Treasury bills auction which was yet again a success.
The auction had the usual offer amount of TZS 78.4Bln through four tenors, 35 days, 91 days, 182 days and 364 days papers which was met with a strong appetite from the public who tendered TZS 109.5Bln to the offered amount.
The auction was oversubscribed by about TZS 28Bln which is slightly lower that the subscription level of the previous auction. Only 182-day and 364 -day papers were oversubscribed, while the rest of the papers got the offer matched with the tender at exact amount.
The government ended up taking about TZS 85.7Bln out of the tendered amount, which was slightly higher than the offered amount. The 364-paper yield at this auction stood at 3.3% showing a down arrow. The Interbank Cash Market (IBCM) had only single session this week, where banks transacted about TZS 22Bln which is significantly lower than TZS 42Bln that was transacted on the previous week.
However, the interbank rate remained unchanged at TZS 1.64% The Interbank Foreign Exchange market (IFEM) had only 2 trading sessions, which yielded only TZS 3.6Mln half the TZS 6.5Mln that was generated on the previous week.
The exchange rate between the USD and the shilling seems to be taking a toll, where this week the TZS has further weakened against the dollar to TZS 2,310.51 from TZS 2,310.32 of previous week.