DSE activities up as foreign investors make a comeback

Dar es Salaam. Trading at the Dar es Salaam Stock Exchange (DSE) picked up on Wednesday following the return of foreign investors, who were absent the previous day.

The DSE market report shows that market turnover increased to Sh165 million after 43,484 shares were transacted in 15 deals on Wednesday, up from Sh16 million recorded on Tuesday, which was the week’s opening day.

Foreign investors bought shares worth Sh124 million, which was 75 per cent of the total value of transacted shares.

The rest of the traded shares were snapped up by local investors.

However, all shares floated during the day were offered by local investors. Tanzania Breweries Limited (TBL) transacted 12,020 shares valued at Sh124.7 million in eight deals at prices ranging from Sh10,000 to Sh10,400 per share, followed by the DSE, which transacted 31,344 shares worth Sh40 million at Sh1,280 per share in four deals.

Foreign investors continued to dominate the market, with the report showing that during the year’s first quarter which ended on March 31 they spent Sh32.4 billion on shares out of the total turnover of Sh37 billion, which was equivalent to 82.49 per cent of total value of shares bought.

Foreign investors have so far splashed out Sh1.1 billion on stocks in the first month of the current quarter out of the total turnover of Sh1.3 billion, which is equivalent to 82.49 per cent of the total value.

They also sold shares worth Sh732.4 million during the first quarter, which was 54.81 per cent of total value of shares sold,while local investors were responsible for the remainder of the shares.