Dar Exchange ends 2017 at historic low

DAILY NEWS Reporter

THE Dar es Salaam Stock Exchange (DSE) registered a turnover of 23.37m/- from 32,474 shares traded on the last day of trading for the year 2017 compared to the previous session which recorded a turnover of 15.37m/- from 66,635 shares.

The DSE all-share index edged south to close at 2,389.75 points (4.9) while the Tanzania Share Index (TSI) remained flat to close at 3,919.25 points. During the trading session, VODA, CRDB, DSE, TBL and TPCC counters transacted 22,550; 7,584; 2,000; 240 and 100 shares respectively.

The DSE equity market turnover for the week ended December 22 was 5.72bn/- compared to over 15bn/- of the preceding week. Index for domestic listed stocks increased by 1.4 per cent to 3,919.25 from 3,863.34, lifted by TBL, although DSE fell by 3.4 per cent to close the week at 1,120 from 1,160 posted the previous week.

Index tracking all listed stocks (All Shares Index) jumped 9.2 per cent to 2,389.11 buoyed by cross-listed stocks which gained on their respective primary listing exchanges. TBL ended the week with a strong note closing at 14,000, 3.7 per cent gain compared to the previous week’s close of 13,500.

Consequently, investors wealth increased by 146.58bn/- as market capitalisation for domestic listed stocks gained 1.4 per cent to close at 10.27tri/- versus the previous week’s 10.12tri/-. Of note was Kenya Airways (KQ) shares which jumped three-fold following their capital restructuring exercise.

The restructuring which was concluded end of November 17 included share split and simultaneous consolidation, according to KQ press statement. CRDB Bank counter continued to attract interest from investors with persisted outstanding bids at the end of every trading session during the week. Banking and financial sector is going through a rapid changing operational environment which is likely to affect their profitability.