FOREIGN investors were net sellers during the week that ended on 26th February 2021 as a load was traded on the TBL counter. TBL saw zero transactions for the better part of the week, until Friday when a prearranged block of 491,409 shares was traded at a price of 5,000/- per share.
The block was sold by foreign investors and bought by locals, hence raising foreign participation to 94.43 per cent on the selling side.
The net outflow during the week was $1.06mln. Locals accounted for 99.82 per cent of the total investments. The total equity turnover for the week amounted to TZS 2.6bln ($1.13mln), which was 278 per cent higher than the previous week, thanks to the prearranged transaction on the TBL counter.
TBL accounted for 94 per cent of the total equity turnover for the week while CRDB and JATU followed with 2.8 per cent and 2.1 per cent respectively. Activities on the CRDB counter slightly lowered as the market finds its footing with the circular by the Bank of Tanzania.
The average trading price for the bank has been lower than the official closing price but due to lowered activities on the counter, the volume has not been enough to alter the price. CRDB has moved 347,463 shares during the week, realizing a weighted average price of 208.77/- for the week while the official closing price is still 220/-. The price of JATU is now finding its balance between 1,800/- and 2,000/-.
The counter moved 29,395 shares during the week, while the weighted average price realized was 1,898.74/-. The price was still bullish at the beginning of the week and took an about turn on Wednesday to end the week on a bearish mode. The counter entered the week at 1,720/- and closed the week at 1,860/-. The net appreciation was 9.3 per cent. Both indices faced down during the week under review as prices were retreating.
The Tanzania Share Index (TSI) lost a 0.44 point as a result of a decline of the price of DSE. DSE traded 16,076 shares, realizing a weighted average price of 1,072.6/- while closing the week at a price of 1,040/- from the previous week’s 1,100/-. The decline on the DSE counter was enough to offset the appreciation of JATU, for the TSI to close on a net bear.
The All Share Index (DSEI) also lost 9.62 points following a decline of the giants, East African Breweries […]