Stock Market
THE Tanzania Share Index (TSI), remained constant during the week, closing at 3,466.81 points for the third week in a row as all domestic counters record no movement in prices in the mentioned period. Similarly, the domestic market capitalisation remains at TZS 9,104.31bln ($3.94bln) same as the close of the last two weeks.
The TSI is up 1.04 per cent since the beginning of the year 2020. On the other hand, the All Share Index (DSEI) lost a slight 0.22 point, to close the week at 1,796.52 points. The drop of the DSEI follows a 0.01 per cent drop in the total market capitalization to TZS 14,915.15bln ($6.46bln).
The DSEI is still down 12.8 per cent year to date as investors are still wary of emerging markets on the still apparent ravage of the global economy by the coronavirus. The slight drop of the DSEI during the week originated from two cross listed counters, despite an appreciation on one cross listed counter, while the rest remained similar to the previous week.
National Media Group (NMG) was the largest loser during the week as the price went down by 10.7 per cent. NMG is already down 72 per cent since the beginning of the year following the disruption of digitisation of advertisement and information. NMG was followed by KCB Bank which dropped by 2.63 per cent.
On the other hand, East African Breweries gained 2.37 per cent. Market activities on the equity side were substantially slower as the total equity turnover went down by 63 per cent thanks to fewer activities on the TBL and CRDB counters.
The total equity turnover realized during the week totaled to TZS 479.74mln ($0.208mln) compared to 1.3bln ($0.56mln) during the previous week. The top mover spot was retained by TBL which accounted for 80 per cent of the turnover, by far followed by CRDB which accounted for 12.2 per cent of the turnover.
Collectively TBL and CRDB accounted for 92.2 per cent of total equity activities during the week. Somewhat 76,635 shares were traded on the TBL counter at a price of 5,000/-in five deals, to realize a turnover of TZS 383.18mln ($0.166mln).
CRDB traded a total of 418,581 shares at a weighted average price of 140/-to realise a turnover of 58.6mln ($0.025mln). The Exchange (DSE), released its quarterly financial results for the period ending 30th June 2020.
Despite the challenge of Covid-19 during the year 2020, the Exchange managed to […]