CRDB and DSE were a positive effect on the Tanzania Share Index (TSI) while the cross listed counters pulled down the All Share Index (DSEI). The TSI gained 19.61 points during the week that ended on 15th January 2021, to close at 3,513.49 points.
Correspondingly, the domestic market capitalisation went up by 0.56 per cent to TZS 9,237.74bln ($4bln). CRDB went up by 9.76 per cent during the week, marking a continuing rally that began in the second week of 2021. CRDB opened the week at the price of 205/- and closed at 225/- per share.
CRDB moved a total of 2.5m shares, realising a weighted average price of 218.93/-. The appreciation on the CRDB counter results from the expectation of an impressive performance for the year 2020 as the bank already showed resilience during the quarters hard hit by the pandemic.
The financial results are expected to be published by the end of January. Apart from CRDB, DSE was another gainer during the week, after gaining 2.22 per cent to close the week at 920/-. DSE moved only 8,570 shares to realise a weighted average price of 921.59/- per share.
The rally on the counter is also due to performance expectations, especially after the mega transaction on the NMB counter late December. KCB Bank (KCB), East African Breweries (EABL) and Jubilee Holdings (JHL) pulled the All Share Index (DSEI) down by 14.37 points, offsetting a gain on the National Media Group (NMG) counter.
The DSEI closed the week at 1,803.04 points while correspondingly the total market capitalisation fell by 0.79 per cent to TZS 14,979.83bln ($6.49bln). KCB, EABL and JHL dropped by 3.75 per cent, 3.07 per cent and 0.82 per cent respectively, while NMG climbed by 1.56 per cent.
The total equity turnover almost halved during the week as TBL recorded zero transactions. The total turnover fell by 45 per cent to a total of TZS 594.32mln ($0.257mln). The volume of shares traded rose by 84.5 per cent to a total of 2.57mln shares.
The volume of shares went opposite to the turnover due to the increased activities on the CRDB counter and fallen activities on the TBL counter. CRDB emerged as the top mover of the week after accounting for 93.8 per cent of the total equity turnover realized during the week.
CRDB was followed, by far, by Twiga Cement which accounted for 2.3 per cent and DSE which accounted for 1.33 per cent. […]
