Dar es Salaam. Block trading activities at the CRDB Bank Plc counter sent weekly turnover at the Dar es Salaam Stock Exchange (DSE) up last week despite a reduction in working days due to the Idd ul-Fitr holiday.
On May 10, the bank’s counter block-traded five million shares valued at Sh1.2 billion in a pre-arranged market board.
The transaction, which was done by local investors, boosted the DSE’s weekly turnover to Sh1.3 billion, being a rise of 286.63 percent - last week up from Sh337.95 million of the preceding week.
“The CRDB counter was a top market mover recording 92.61 percent of total market turnover,” brokerage firm, Vertex International Securities says in its weekly wrap-up.
The performance, analysts say, could be linked to expectations that the lender would soon announce a lucrative dividend after posting a rise in profit last year.
Last year, CRDB Bank Plc’s net profit jumped to Sh153 billion from Sh123 billion in 2019.
At the DSE, the volume of shares traded last week also improved to 5.44 million from 306,667 of the preceding week.
Other active counters on last week’s trading were NMB Bank Plc and Twiga cement.
DSE reports indicated that in the period under review the total equity capital also increased by 0.23 percent to close at Sh15.93 trillion.
The domestic market capitalisation also gained by a slight 0.69 percent to Sh9.36 trillion.
Price movements were recorded at the Twiga Cement counter whose stocks gained by 5 percent to trade at Sh2,940 a share. Jatu stocks lost 10.96 percent, closing at Sh1,300 apiece.
All Shares Index (DSEI) - which determines performance of all listed firms - gained by 0.23 percent, closing at 1,915.90 points. The Tanzania Shares Index (TSI) - which tracks local-listed shares - gained 0.69 percent, closing at 3,558.27 points.
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