THE market is still in a distasteful shape, with turnovers at lowest point in the market’s recent history.
Daily average turnover since the beginning of May 2020 amounts to 3.75m/- ($1,630) compared to 2.1bn/- ($917.65mln) for January and February.
Equity turnover during the week under review dropped by 15 per cent to 13.92m/- ($6,044) compared to 16.4m/-($7,106) realized during the previous week.
The Tanzania Share Index (TSI) lost a mere 0.18 point following a 2.22 per cent decline in the price of DSE.
The TSI closed the week at 3,491.92 points while the domestic market capitalization merely dropped by 0.005 per cent to close the week at 9.17tri/- ($3.98bln).
The price of DSE retreated to 880/- per share from 900/- during the previous week.
A reduced price reflects a consis- tent decline of activities on the Exchange as equity turnovers take a back seat. Reduced ac- tivities mean less transaction fees for DSE.
As turnovers drop, the Ex- change’s income reliance shifts to listed fees, mostly from over 11trr/-($4.9bln) worth of listed Treasury bonds.
The counter traded 1,200 shares to realize a turnover of 1.056m/-($458.47) while accounting for 7.6 per cent of the total equity turnover during the week. CRDB maintained the top mover spot after moving 25,284 which realized a turnover of 3.54m/-($1,537).
CRDB accounted for 25.4 per cent of the total weekly turnover. Counter dominance was scat- tered among various counters, as Swissport accounted for 20 per cent while Twiga and TBL accounted for 18 per cent and 11 per cent, respectively.
Foreign participation was still very minimal, at 4 per cent of investments while divest- ments were dominated by local investors.Twiga and NICOL are the counters with minor intrigue to foreign investors at the moment. Foreigners’ favourite, TBL is still shying away due to over- valuation and a dry up in the off-market transactions board.The All Share Index (DSEI) gained 6.24 points to close the week at 1,806.88 points. The total market capitalization went up by 0.35 per cent equivalent to 51.77bn/- ($22.48mln).The total market cap closed the week at 15tri/- ($6.51bln). The gain on the DSEI results from appreciation of Kenya Airways by 50 per cent while National Media Group gained 2.5 per cent.The substantial gain on Kenya Airways was enough to offset the depreciation of the heavyweight East African Breweries which dropped by 2.26 per cent. Other cross listed counters remained constant.Market, Bills and Bonds The interbank rate on the In- terbank Money Market […]