BOTH major indices on the Dar es Salaam Stock Exchange were on the green during the week that ended on 25th June 2021. The Tanzania Share Index (TSI) gained 20.63 points following a rally on Twiga Cement (TPCC) and NICOL counters.
Twiga went up by 9.38% on the back of a handsome dividend that has already been paid, and expectations of performance maintenance by the cement manufacturer.
NICOL also went up 2.27% as prospects of a handsome dividend, due to an increased dividend of NMB, keeps attracting investors.
The TSI closed the week at 3,645.66 points while the domestic market capitalization grew by 0.57%, being the cause for the gain of the TSI. The domestic market capitalization closed the week at a total of TZS 9,601.17bln ($4.16bln).
On top of the rally on Twiga and NICOL counters, the crosslisted giants, East African Breweries (EABL) and KCB Bank Plc (KCB) saw their prices increase by 1.59% and 2.2% during the week, hence raising the All Share Index (DSEI) by 19.27 points. National Media Group (NMG) dropped by 1% but was too trivial to tame the bull.
The DSEI closed the week at 1,975.43 points while the total market cap grew by 0.98% to TZS 16,428.15bln ($7.11bln).
The total equity turnover grew by 63.9% every week to a total of TZS 988.06mln ($0.43mln) thanks to increased activities on the TPCC counter that fed the bull charging with the counter.
The total number of shares traded during the week also rose by 72.8% to a total of 790,521 shares traded in 154 deals, 11 deals more than the previous week.
The top mover spot was booked by Twiga Cement after accounting for 73.9% of the total equity turnover for the week. The counter moved a total of 208,590 shares and realized a weighted average price of 3,500/-.
Out of the total traded shares of Twiga, 140,000 shares, equivalent to 67.1%, moved in a prearranged deal for 3,500/-. The counter closed the week at the transaction price as well.
On a changing scenery, foreign investors were dominant in the market during the week under review. With being active on both sides of Twiga Cement, foreign investors were dominant on both sides of the market, accounting for 64.26% and 89.89% of the total investments and divestments respectively, while locals accounted for the balance.Foreign investors were also on the disposal side of Tanga Cement (TCCL) which moved 420,640 shares during the week and they were […]