THE Tanzania Share Index (TSI) recorded a bullish trend for yet another week as Twiga Cement maintains the rally. The price of Twiga gained 3.97 per cent while closing the week at a price of 2,620/- from previous week’s 2,520/- per share.
The counter closed at the highest of 2,640/- on Wednesday 04th November 2020 before partially retreating back to 2,620/- on Friday 06th November. Twiga Cement traded a total of 0.36m shares to generate a turnover of TZS 949.4m ($0.41m) to realise a weighted average price of 2,622/-.
About 83 per cent of the activities on the counter were through a prearranged block transaction executed on Wednesday. Twiga accounted for 76 per cent of the total equity turnover for the week, making the counter the top mover, toppling off CRDB from the spot.
As a result of the activities on the Twiga counter, the TSI went up by 6.85 points to close the week at TZS 3,476.02 points. Correspondingly, the domestic market capitalisation grew by 0.2 per cent to close the week at TZS 9,128.54bln ($3.95bln). The TSI is up 44.92 points since the beginning of the year, while the domestic market cap is up 1.31 per cent.
Apart from Twiga, another major mover was the NMB counter through a prearranged block transaction executed on Tuesday. The block was comprised of 172,541 shares traded at a price of 1,300/- per share, to realise a turnover of TZS 224mln ($0.97mln).
NMB accounted for 17.9 per cent of the total turnover generated during the week. NMB was followed CRDB and DSE which accounted for 4.9 per cent and 1.08 per cent of the total turnover respectively. The total equity turnover generated during the week was 52.2 per cent lower than the previous week despite having more trading sessions.
The total turnover during the week under review amounted to TZS 1.25bn ($0.54m) compared to TZS 2.61bn ($1.13m) for the previous week. The volume of shares traded during the week fell by 94 per cent week on week, to a total of 901,662 shares executed in 133 deals, up from 54 deals during the previous week.
The All Share Index (DSEI) on the other hand slightly fell by a 0.29 point to close the week at 1,782.64 points. The drop of the DSEI was caused by a fall in prices of National Media Group (NMG) and KCB Bank, by 10 per cent and 1.32 per cent respectively.
The drop of […]