DESPITE a change of the tide on the last trading session of the week, JATU still managed to trivially suppress the Tanzania Share Index (TSI) after the counter dropped by 23.15 per cent on a weekly basis.
JATU opened the week at a price of 1,080/- then closing at 830/- on Friday 05th February 2021 after hitting 760/- on Thursday 04th February 2021. Interest on the counter seems to have regrouped after closing with outstanding bids of 6,890 at the session’s highest price of 830/- while the counter had zero offers.
The Tanzania Share Index (TSI) went down by a 0.2 point due to a pull down by JATU Plc. TSI closed the week at 3,522.13 points. Correspondingly the domestic market capitalization dropped by 0.006 per cent to a total of TZS 9,260.49bln ($4.01bln).
The total market capitalization on the other hand appreciated by 2.33 per cent to a high of TZS 15,219.89bln ($6.59bln) and as a result the All Share Index (DSEI) climbed by 41.76 points to 1,831.94 points. The climb of the DSEI was a result of the cross listed giants, East African Breweries (EABL) and KCB Bank (KCB), which climbed by 11.2 per cent and 4.05 per cent respectively.
National Media Group (NMG) and Jubilee Holdings (JHL) both fell by 12.9 per cent and 2.56 per cent respectively. Uchumi Supermarket (USL) remained stationary while Kenya Airways (KA) remained suspended from trading due to the undergoing acquisition process by the Kenya government. The total equity turnover fell by 32.1 per cent while the volume of shares traded dropped by 89.6 per cent due to a slowdown of activities on the CRDB counter while concentrating on high prices counters, TCC and TBL.
The total turnover during the week amounted to TZS 2.95bln ($1.28mln) while the volume of shares amounted to 0.75mln traded in 256 deals. The top mover of the week was Tanzania Cigarette Company (TCC) which accounted for 56.9 per cent of the total realized turnover.
TCC traded a total of 280,000 shares at a price of 6,000/-, in one deal, in a prearranged block transaction. The transaction went through at a 65 per cent discount from the official market closing price of 17,000/-.
TCC was closely followed by TBL which accounted for 31.4 per cent of the total turnover after moving 150,853 shares at a weighted average price of 6,145/-. Majority of transactions still go through the prearranged board and making up the […]