Tanzania: Dar Share Index Declines Slightly On Falling Domestic Market Cap

THE Tanzania Share Index (TSI), slightly fell during the week after losing a 0.09 point to close the week at 3,494.06 points.

The drop follows a 0.003 percent drop of the domestic market capitalisation originating from the DSE counter which fell by 1.11 per cent.

The domestic market capitalisation closed the week at 9.17tri/- ($3.99bln).

The DSE counter moved the TSI after trading 14,329 at an average price of 890/-to realize a turnover of 12.75m/- ($5,539).

DSE accounted for 5.35 percent of the total equity turnover realised while maintaining as the second top active counter during the week.

The total equity turnover during the week was 238.56m/- ($0.104mln), which is 33.5 per cent higher than the turnover realised during the previous week.

The top mover during the week remained CRDB who has become the star counter for the market as TBL has been under an illiquidity cave.

CRDB accounted for 90.3 percent of the total realized turnover. CRDB moved 1.4mln shares at an average price of 149.79/-.

End of the week, Thursday 30th April, was the last cumdiv trading day for CRDB and accounted for 73 percent of the transactional value of CRDB during the week.

On the other hand, Thursday accounted for 66 percent of the total weekly turnover. CRDB closed with a dividend yield of 11.3 percent.

The appreciation of CRDB’s price after the bank’s dividend announcement seems to have been limited by the ongoing coronavirus uncertainties.Monthly turnover for the month of April maintained a slowdown after falling by 70 per cent compared to the turnover of March 2020.The total turnover realized during April totaled to 1.4bn/- ($0.61mln) compared to 4.7bn/- ($2.05mln) during March 2020.The most vivid impact of the coronavirus on the Dar es Salaam Stock Exchange has been stressed market turnovers, different from other markets which saw pressure on indices.The average daily turnover fell from 2bn/-($0.96mln) during January and February 2020 to 214m/-($0.09mln) during March and 66.9m/-(0.03mln) during April 2020.Foreign investors were slightly back on the scene on the buying side during the week, as they accounted for 3.31 percent of the total weekly investment into the market.Foreign investment was seen into the NICOL counter as TBL which is foreign investors’ favorite remains quiet.The sell side was still locally dominated by 100 percent. The All Share Index (DSEI), gained 16.9 points despite a depreciation of most cross listed counters.The DSEI closed the week at 1,783.33 points while the total market capitalisation went down by 0.94 […]

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