DAR ES SALAAM Stock Exchange’s (DSE) domestic market capitalisation remained stagnant since the beginning of this month marking a period of unchanged prices of domestic counters.
This month, being the period of holidays, saw also Tanzania Share Index (TSI), measuring the happening of domestic listed stocks, recording the same points as of during the opening month.
Orbit Securities,Weekly Financial Markets Synopsis, reported that domestic market cap and TSI closed the week at 9.01tri/- and 3,431.10 points respectively same as of December 1st.
“The domestic capitalization along with TSI all remained stagnant, marking a month of unchanged prices of domestic counters,” Orbit said.
However, All Share Index (DSEI), measuring the depth of the entire bourse, gained 6.34 points following a 0.31 per cent growth of the total market capitalization for a week ending last Friday.
The growth in the total market cap was a result of price appreciation on East African Breweries and Jubilee Holdings counters by 1.14 per cent and 2.31 per cent respectively.
“All the other cross listed counters remained unchanged,” Orbit report showed. The DSEI closed the week at 2,057.54 points while the total market cap grew to 17.082tri/-.
On other hand, total equity turnover dropped by 44 per cent due to fewer trading days during the week.
The total equity turnover realized for the week ending last Friday was 1.81bn/- compared to 3.23bn/-recorded during the previous week.
On the other hand, the volume of shares traded dropped more than 92 per cent due to significant decline in activities on the cheap CRDB Bank counter.
Due to Christmas the volume of shares during the week dropped to 0.34million compared to 4.25million shares traded during the previous week.
Tanzania Breweries maintained the top mover spot after accounting for 98.45 per cent of the total equity turnover realized during the week.
“CRDB traded a very small portion while demand was mounting relative to supply, at the end of the week,” Orbit, the leading brokerage firm, said.
Foreign investors were dominant of the market during the week, while marginally closing as net buyers with a net inflow of 1.28m/-.
Foreign investors accounted for 98.43 per cent of investments and 98.36 per cent of divestments from the market respectively, while local investors accounted for the balance.
