DSE weekly turnover dips by 31pc
Dar es Salaam. The Dar es Salaam Stock Market (DSE) weekly turnover weakened by 31.03 per cent last week, when compared with the previous week, the weekly market report shows.
Zan Securities’ weekly market wrap-ups indicate that the bourse’s turnover decreased to Sh376.49 million last week compared with Sh545.87 million tabled the previous week ending March 22, 2019.
The CRDB Bank counter dominated the market with 55.22 per cent of the total turnover, followed by Tanzania Portland Cement Company (TPCC) at 21.14 per cent and Tanzania Breweries Limited (TBL) at 16.50 per cent.
The report shows that the market was dominated by local investors as foreign investors only participated in just two days of trading in both buying and selling activities.
Other active counters last week were Tanzania Cigarate Company (TCC), Tanga Cement Company Ltd (TCCL), National Investment Company Ltd (Nicol), NMB Bank, Twiga Cement Company (TPCC) , DSE plc and Vodacom Tanzania.
For the week ending March 29, top gainers where TPCC, which gained 3.96 per cent to close at Sh2,100 and NICO, which gained 3.13 per cent to close at Sh165 per share.
Swissport Tanzania Plc dropped 15 per cent to close at Sh1,700.
On the other hand, Total market capitalisation decreased by 1.51 per cent, closing at Sh19.85 trillion and the Domestic market capitalisation jumped 0.04 per cent to close at Sh9.14 trillion
“The equities market closed the week on a low note due to a few foreign investors’ activities, which can be attributed to the decision by the US Federal Reserve to leave rates untouched this year,” says a report by Zan Securities Limited, brokers and investment advisors at the DSE.
