ACTIVITIES on the Dar es Salaam Stock Exchange are still dwindling as turnovers are at the lowest in the recent history of the Exchange.
During the week that ended on 29th May 2020, the total weekly turnover grew more than 22 folds, thanks to an off-market transaction on the TBL counter.
The total equity turnover for the week under review grew to 317.05m/-($0.14mln) realized in a total of 61 deals.
Five off-market block transactions that took place on Thursday, worth 300m/- ($0.13mln) were enough to make TBL the top mover of the week. TBL accounted for 95 per cent of the total equity turnover realized during the week.
TBL was followed from a far by CRDB which accounted for 2.2 per cent of the total weekly turnover. DCB moved 19,870 shares at an average price of 290/- per share, leading to a 1.69 per cent deceleration of the counter’s price. On the other hand, NICOL gained 3.03 per cent after moving 8,000 shares.
Due to its lower weight, the appreciation of NICOL was not enough to offset the deceleration on the DCB counter, resulting on a slight shed on the Tanzania Share Index.
The price of NICOL gained despite a 67 per cent decline in the company’s annual profits. During the week, the fund manager released annual financial results for FY2019.
In the report, the company noted an expropriation of the company’s 51% stake in Tanzania Meat Company (TMCL) by the Ministry of Livestock and Fisheries. The company is to take legal steps to protect shareholders’ interests.
NICOL’s shareholding register has further been updated to match the register which previously existed at the Exchange.
The total number of shares as of 31st December 2019 was 69.16mln shares. Further, the company reported a total comprehensive loss due to a 1.64 per cent decline in the fair value of financial assets, especially equities.
The total equity turnover for the month of May dropped significantly by 73.4 per cent compared to April. The total turnover for May was 373.36m/-($0.16mln) compared to 1.4bn/- ($0.61mln) realized during April. Turnover has been declining since March as a result of a global shakeup from the coronavirus, but also due to stringent trading rules on the Exchange.The Tanzania Share Index (TSI) slipped by a marginal of 0.05 point to close the week at 3,491.87 points following a slight deceleration of the price of DCB Bank.The domestic market capitalization followed suit after a marginal loss of 0.001 per […]