THE Dar es Salaam Stock Exchange (DSE), equities market turnover continued to maintain momentum last week though at declined rate.
On weekly basis, data showed that despite posting handsome performance compared to the other weeks in previous two months, the turnover sunk by around 41 percent.
The market posted a weekly turnover of 3.56bn/-though down from 5.67bn/-of previous week but a good performance compared to others weeks during the peak of covid-19 pandemic. Zan Securities Chief Executive Officer (CEO), Raphael Masumbuko said the market seemed to find its momentum lost due to outbreak of coronavirus.
"The equity market maintained last week momentum and we think there is more to come in the weeks ahead," Mr Masumbuko said through Zan’s Weekly Market Wrap-ups. Orbit Securities said in its weekly Market Synopsis said despite a number of deals falling from 124 to 106, the volume of shares traded rose 28 percent to 2.08m/-shares due to increased activities on the NMB Bank counter.
"Pre-arranged block transactions still account for a major share of activities, on a few large counters," the synopsis showed. Data showed that NMB dominated the market turnover share by 50.69 percent of the total turnover followed by TBL with 48.68 percent.
Tanzania Securities in previous reports predicted that going forward local investors might dominating trading at the bourse which was evidently last week.
The foreign investors who normally dominate the market their participation was down by 70 per cent for the week under review.
Nevertheless, both domestic and total market capitalization increased last week.
The total market capitalisation increased by 1.49 percent to 15.228tri/-and domestic market capitalisation increased slightly 9.1572tri/-from 9.1570tri/-.
The key benchmark indices closed the week northwards.
Tanzania share index (TSI) closed at 3,486.99 points, a slight increase while all Share Index (DSEI) increased by 1.48 percent to close at 1,834.31 points.TSI gain originated from a slight 1.14 percent on the DSE counter which closed the week after price appreciation 1.14 percent to close the week at 890/-.While, DSEI increase was attributed to appreciation on EABL and KCB Bank counters. EABL and KCB gained 5.32percent and 3.33 percent respectively. National Media Group (NMG) lost 2.94 percent during the week but was offset by the gain in the giants.The previous week the turnover climbed over 40 fold to 5.67bn/-which was almost the combine entire amount of April and May of slightly over 370m/-and April 1.4bn/-respectively. The bourse turnover, since the outbreak of Covid-19, in some weeks dropped to […]
