Stock Market
Despite the weakening of prices of the giant cross-listed counters, the bull charging on the domestic counters was enough to lift both indices to close at the green during the week that ended on 21st May 2021.
There were no block transactions during the week while zero activities were seen on TBL and TCC counters, which usually see most of their transactions through the prearranged board. Due to a lack of prearranged transactions, equity turnover dropped significantly every week.
The Tanzania Share Index (TSI) gained a staggering 42.79 points following a 1.2 per cent appreciation of the domestic market capitalization after four domestic counters saw their prices increase. Price appreciation was led by CRDB which rose by 10.2 per cent following the TZS 22/- dividend announcement and as the approaching AGM on the 22nd May 2021.
Twiga Cement (TPCC) rose by 8.84 per cent while DSE and Tanga Cement (TCCL) both rose by 1.72 per cent and 1.28 per cent respectively.
JATU dropped by 7.69
per cent but the depreciation was trivial as the net effect was the rise of the TSI to 3,601.06 points while the domestic capitalization closed the week at TZS 9,481.43bln ($4.1bln)
The two largest cross-listed counters, East African Breweries (EABL) and KCB Bank, both saw their prices shrink by 0.54 per cent and 2.22 per cent respectively.
The fall on the two counters was not enough to offset the bull charging on the domestic counters as well as National Media Group (NMG) and Jubilee Holdings (JHL) which grew by 7.46 per cent and 0.85 per cent respectively.
As a result the All Share Index (DSEI) gained 5.51 points to close the week at 1,921.41 points while the total market capitalization grew by 0.29 per cent to TZS 15,976.62bln ($6.92bln).
The total equity turnover fell by 79.5 per cent as prearranged block transactions lacked during the week. The total turnover amounted to TZS 268mln ($0.12mln) while the total volume of shares traded amounted to 545,163 shares, which is 89.7 per cent lower than the previous week. The shares were traded in 243 deals, higher than 153 deals during the previous week.The top moving counter during the week was CRDB Bank which accounted for 43.3 per cent of the total equity turnover, followed by DSE and TPCC which both accounted for 26.9 per cent and 14.8 per cent of the total turnover respectively. CRDB realized a weighted average price of 266/- which is a […]
