AfricaPress-Tanzania: DAR ES SALAAM Stock Exchange (DSE), trading showed a glimpse of hope with an increase in volume and turnover last week, but sustainability hangs on flattening Covid-19 curve.
The equities market turnover jumped almost twenty times to 881m/-for a week ending last Friday against previous week’s 45.47m/-.
Zan Securities Chief Executive Officer (CEO), Raphael Masumbuko said despite coronavirus contagious effect the market was still depressed and its full recovery won’t be until end of third quarter.
“The equity market showed a glimpse of hope,” Mr Masumbuko said in the weekly market wrap-ups report. He added: “However, the market is still depressed, we do not expect any huge improvement in this quarter or the next,”
During the period, CRDB bank dominated the market share by 93.08 per cent of the total turnover followed by Twiga Cement at 4.91 per cent. Also price movement was recorded in two domestic listed equities.
CRDB gained 3.70 per cent of its value to close at 140/=per share. The bank declared a dividend of 17/-which was four years high and over 100 per cent compared to 8/- of 2018. Twiga equity lost 3.67per cent to close at 2,100/-per share.
While, total market capitalization increased by 0.54 per cent to 14.59tri/-, the domestic market capitalisation slipped 0.01 per cent to close at 9.13tri/-.
The key benchmark indices closed at mixed trend. Tanzania Share Index (TSI) closed at 3,484.11 points, 0.43 per cent down.
And all Share Index (DSEI) increased 5.91 per cent to close at 1,739.63 points.
The sector Indices also closed at mixed trend where Industrial an Allied Index (IA) closed at 4,762.76 points, 0.27 percent down.
Bank, Finance and Investment Index gained 0.78 per cent to close at 2,150.05 points. Commercial Services Index closed at 2,362.38 points, same as last week.
