DAR BOURSE’S TURNOVER INCREASES BY SH49BN - FINANCIAL-24
In Summary
The firm accounted for 98 per cent of the turnover while foreign investors bought Sh49.43 billion shares. The brewer’s share price appreciated by 11.82 per cent to Sh12,300.Dar es Salaam. Trading jumped at the Dar es Salaam Stock Exchange (DSE) as foreign investors flocked to the Tanzania Breweries Ltd (TBL) counter, which dominated the market last week.
The weekly turnover jumped to Sh50.48 billion last week from Sh1.2 billion the previous week.
TBL accounted for 98 per cent of the turnover while foreign investors purchased Sh49.43 billion shares.
The market is recovering from weak performance it has been recording since the end of last year.
“Year-end is always a low season for the stock market but this time the trend has been extended through May due to the fact that many were focusing on the Vodacom Tanzania initial public offering.
Business is now peaking and we expect gaining of turnover and equity prices to continue next week,” said Zan Securities chief executive officer Raphael Masumbuko.
According to him, foreign investors normally like to buy shares in the companies which have some foreign ownership.
TBL was the top gainer of the week after its share price appreciated by 11.82 per cent to Sh12,300. Top losers for the week was Swissport which depreciated by 12 per cent Sh 4,400 per share and Mkombozi Commercial Bank that fell by 10 per cent and closed the week at Sh900 per share.
Total market capitalisation decreased by 0.36 per cent, closing the week at Sh18.51 trillion. Domestic market capitalization increased by 4.37 per cent Sh7.34 trillion.
The Tanzania Share Index (TSI) capped at 3,492.51 points, being 4.37 per cent higher than preceding week. The All Share Index (DSEI) closed at 2,127.77 points which is 0.36 per cent lower than last week.
Industrial & Allied Index improved by 8.11 per cent to 4,534.97 points while Banks, Finance and Investment Index went down by 2.72 per cent to 2,497.85 points. Commercial Services Sector also decreased by 8.46 per cent to 2,718.47 points.
Started in April 1998, DSE is open from Monday to Friday from 10.00 am to 14.00 pm.
Source: The Citizen
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