Africa-Press – Tanzania. THE introduction of the mobile trading platform by the Dar es Salaam Stock Exchange (DSE) has started to pay off as more counters are becoming active now.
The bourse less than a month ago launched the mobile trading platform and envisaged it will transform the trading activities.
And, less than a month down the lane, some stock brokers are saying the platform might have something to do with the increase of activities at the bourse.
Tanzania Securities showed in its Daily Market Report some counters which were dormant, like TaTePa, since the beginning of year were now active.
“More counters are becoming active now and this might be due to the mobile trading platform…,” Tanzania Securities said.
The brokerage firm said the opening of the bourse to enable investors to trade shares across the country seems to push activities. …The platform now gives access to all the investors to trade whenever they are in the country,” Tanzania Securities said. For the week ending last Friday, the exchange share increased by almost 140 per cent to 2,047,943 shares from 854,764 shares.
However, on Monday, the bourse started low after moving 547,466 shares compared to 1,018,955 shares traded the last session while foreigners participated by 39.76per cent on the buying side only.
Some stock analysts said it was too early to evaluate the impact of mobile trading platform since most shares were transacting mode even before the introduction of the platform.
Also, on Monday CRDB Bank traded most share after moving 527,900 shares at a price range of 190/- and 195/-. TBL followed after traded 14,000 shares at 10,400/- and then Jatu, the new comer, traded 5,136 shares at 1,010/-.
On the fourth place was TCCIA that traded 200 shares at 340/-and NICO traded 130 at 185/-, NMB Bank moved 53 shares at 2,240/- while TaTePa traded 30 shares at 120/-.
The last two were TCC traded nine shares at 16,200/- and Twiga Cement moved eight shares at 2,560/-.
Launching the platform Capital Markets and Securities Authority (CMSA) forecasting that the DSE trading was likely to go up after the introduction of the system.
