DSE trading decline

Compensating tax was introduced to discourage companies distributing dividends while enjoying a tax holiday, but instead reinvest the profits in the business. PHOTO | FILE 

DAILY NEWS Reporter

KEY benchmark indices at the Dar es Salaam Stock Exchange (DSE), ended in the red territory last week dragged by losses in the industrial and allied as well as Banks, Finance and Investment sectors by 0.37 per cent and 1.76 per cent respectively.

Zan Securities Limited Weekly Market Wrap-Ups shows that the Industrial and Allied experienced a decrease to close at 6,083.20 points down by 0.37 percent compared to the previous week at 6,105.55 points.

There is no assurance that any of the target prices or other forward-looking statements mentioned will be attained. Any market prices are only indications of market value and are subject to change at 3,169.66 points compared to last weeks closing at 3,226.46 points. Commercial Services Sector remained constant for the past two weeks, closing at 3,953.25 points.

“We remain long term positive on the outlook for the market performance. We expect market turnover in the coming week to be moderate and improved price change. It is good time for investors turning market volatility to their advantage,” stated the report. Similarly, Banks, Finance and Investment Index in the week under review experienced a decreased by 1.76 percent.

The Tanzania Share Index (TSI) capped at 4,598.47 points, lower by 0.71 percent compared with 4,631.48 points posted last week. The All Share Index (DSEI) closed at 2,369.30 points, lower by 0.11 percent compared with last weeks closing at 2,371.81 points.

The newly issued Mwalimu Commercial Bank (MCB), dominated Price movement within locally listed companies at the Dar es Salaam Stock Exchange (DSE). MCB that became the fourth company to be listed on its Enterprise Growth Market Segment (EGM) and the fifteenth local firm and the twenty second company overall to be listed at the Exchange opened at 500/- per share and appreciated by 33 percent to close at 665/- per share by the end of the trading period on Friday last week.

In the meantime, the Tanzania Breweries Ltd (TBL), emerged as this week’s top traded equity. TBL contributed 96.89 percent of total turnover. Tanzania Cigarette Company (TCC) emerged as the top loser to close off this week with the largest price drop for local listed companies. TCC experienced a 180/- or 1.11percent price decrease to close at 16,100/- per share.

Total market capitalization experienced an increase by 0.09 percent compared to last week, closing at 20.79bn/-. Domestic market capitalization experienced a decrease by 0.29 percent closing the week at 9.78bn/-. The bourse continues to impress as this weeks total turnover concluded at34.85bn/-, compared 4.29bn/- of the preceding week