Investors capitalise on low market prices of stocks

DAILY NEWS Reporter

INVESTORS are taking advantage of low market prices of most stocks on the Dar es Salaam Stock Exchange (DSE), with expectation of picking up again to their normal prices.

For example, the Tanzania Breweries Limited (TBL) and CRDB were the top trading equities that dominated the market share last week at 92.44 percent and 5.97 percent respectively.

Zan Securities Limited Chief Executive Officer (CEO) Mr Raphael Masumbuko said in Dar es Salaam yesterday that share prices of most stocks are currently down driven by global market trends.

“It’s a good buy time for investors after discovering that stock prices are presently down thus expecting bright future of prices to return to their normal,” he said, adding that some companies have good performance but prices are down.

On his part, Orbit Securities Limited General Manager Mr Simon Juventus said there has been an active foreign investor’s participation on the DSE since January this year.

He said as it was in the first six months, the second half of the year will continue to be active and post outstanding performance compared to the corresponding period last year.

During the week under review, the equity market closed with the highest weekly turnover in September after posting 16.28bn/- compared to 1.75bn/- of the preceding week.

“Equities turnover on the DSE gained marginally during the week as key indices dropped, signaling better tidings for investors in the coming weeks,” stated the Zan Securities Limited Weekly Wrap-Ups report. Similarly, total market capitalization increased by 3.92 percent closing at 21.59tri/- while domestic market capitalization decreased by 0.51 percent 8.13tri/-.

The Tanzania Share Index (TSI) capped at 3,867.02 points down by 0.51 while the All Share Index (DSEI) closed at 2,478.81 points, up by 3.94 percent compared the previous period. Industrial and Allied closed at 4,910.36 points down by 0.27 percent compared to previous week at 4,923.44 points.

Banks, Finance and Investment Index experienced a decrease, closing at 2,874.82 points up by 1.20 percent compared 2,909.71 points.

Commercial Services Sector remained the same as last week at 3,538.83 points.

Most domestic stocks registered no change in share price including TBL that traded at 12,800/- per share, DSE at 1,300/- per share, CRDB at 280/- per share, TCC at 11,740/- per share.

Others are the NMB traded at 2,750/- per share, TPCC at 2,290/- per share and TCCL at 1,860/- per share.