MARKET DATA REVIEW: Dar bourse’s weekly turnover increases by 63 per cent

 

Dar es Salaam Stock Exchange’s CEO, Mr Moremi Marwa, speaks during a past event. PHOTO | FILE 

 

By Veneranda Sumila, The Citizen Reporter

In Summary

• 27.59: Billion of shillings worth of week-on-week turnover last week, up from Sh16.85 the previous week

Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) continued to gain last week, with a weekly turnover increase of 63 per cent.

Week-on-week turnover increased to Sh27.59 billion last week, higher than Sh16.85 billion the preceding week. The TCC counter contributed over 72 per cent of the total turnover as it traded 1 million shares on a pre-arranged deal at Sh19,000 per share, reaping a total of Sh19 billion.

Activity also increased sigificantly last week as shares traded rose by 38.05 per cent to 8,899,449 compared with the previous week’s 6,446,929 shares. Zan Securities CEO Rafael Masumbuko last week attributed the good performance to increased interest coming from foreign investors who can now buy unlimited volumes of shares.

According to  a Zan Securities weekly analysis, the most active counters for local listed companies last week were TCC, CRDB, Swissport, Twiga and NMB .

“Four out of seven cross-listed companies recorded a positive price movement at the close of the week; these are JHL, EABL, ABG and KA. Other three cross-listed companies recorded a negative price movement during the week under review. They were USL, NMG and KCB,” says the report. Indices continued with their upward trajectory last week.

The Dar es Salaam Stock Exchange Index went up by 0.77 per cent to close at 2,701.82 points while the Tanzania Securities Index gained by 1.12 per cent to settle at 5,763.06 points buoyed by gains made on the TBL, Swissport, NMB, CRDB and Simba counters which closed at Sh18,420, Sh5,060, Sh4,690 Sh450 and Sh6,010 respectively.

The banking sector contributed 12 per cent of the total turnover and 79 per cent of the market activity recorded during the week, according to the Tanzania Securities Limited weekly analysis.

The CRDB counter was the most active on the segment last week. It transacted 6,725,191 shares closing the week at Sh450 per share.

Industrial and allied segment was more liquid last week compared with the previous week.