DSE weekly turnover jump by 800 per cent

DSE Chief Executive Officer Moremi Marwa

By Mnaku Mbani

The Dar es Salaam Stock Exchange  (DSE) turnover increased by 800 per cent to Tsh16.2 billion during the end of last week, from Tsh1.7 billion recorded during the previous week.

According to the DSE weekly report released today shows that number of shares traded also increased 14 times to 4.8 million last week from 347,147 shares traded during the previous week.

The report released by the DSE manager for product development and marketing Patrick Mususa shows that three companies which dominated the market during the week under review were CRDB Bank which had 72.61 per cent of all traded shares followed by Tanzania Breweries Limited (24.31 per cent) and DSE with 2.05 per cent.

The DSE  all shares  (DSEI) market capitalization increased by 3.9 per cent to Tsh21.6 trillion last week from Tsh20.8 trillion recorded during the previous week while the Tanzania Share Index (TSI) also increased by 0.5 per cent to Tsh8.2 trillion last week from Tsh8.1 trillion recorded last week.

However, the market report shows that the Industries Index (AI) slowed by 13 points following the slight decrease of TBL shares while the Banking Index (BI) went down by 34.89 points due to the slowdown of DSE and CRDB share prices.

Sekta ya viwanda (IA) wiki hii imepungua pointi 13 baada ya bei za hisa za TBL kushuka kwa asilimia 0.39%.

“We have always seen the changes in number of shares traded from week to week. The good example is a week before last week were the turnover fell by 81 per cent but last week it went up nine times,” Mususa said.

However, he maintained that the slowdown of the market turnover had no link with the change of economic policies or do not indicated that the economic growth is falling or heading towards recession.

“This week there was significant increase in turnover and activity. We expect activities to remain moderate on the bourse despite the challenge emanating from the supply side. Foreign investors will continue to participate on some counters, mainly on the banking segment,” says Linah Maswi, Operations officer at Tanzania Securities Limited, brokers and investments advisory firm..

She added that this week’s T-Bill auction indicated improved liquidity conditions as investors showed appetite on all investment day’s tenor. Preference was more on the 182-days maturity and the 364-days maturity. We anticipate seeing a similar reflection on 15 –Year bond to be auctioned Wednesday next week.

End.