FOREIGN investors’ participation on the Dar es Salaam Stock Exchange remained marginal during the first week of the year 2020 but dominated both sides of the market.
According to the Weekly Market Synopsis by Orbit Securities Company Limited, foreign investors accounted for 87.84 per cent and 87.83 per cent of total investments and divestments in the market whereas domestic investors accounted for the balance on both sides.
During the reference week, the Tanzania Share Index (TSI) along with the domestic market capitalization remained yet stagnant, entering the second month of domestic prices’ rigidity.
TSI and the domestic market cap remained at 3,431.10 points and 9.01tri/- respectively. However, domestic market capitalization has fallen by 7.07 per cent in the year 2019.
The All Share Index (DSEI) gained 7.54 points week on week following a slight increase of the total market capitalization by 0.37 per cent.
DSEI was pushed by the upward price movement on KCB and NMG by 1.67 per cent and 4.65 per cent, respectively. KCB and NMG neutralized a down movement of 0.75 per cent on the JHL counter. The DSEI closed the week at 2,065.08 points while the total market cap closed the week at 17.14tri/-.
Total equity turnover during the week dropped by 77 per cent due to decreased activities on the Tanzania Breweries Limited (TBL) counter.
The total equity turnover during the week was 418.1m/- compared to 1.81bn/-realized during the previous week.
Volume of shares traded declined by a slower pace of 8.65 per cent, from previous week’s 0.34 million shares to 0.31 million shares during the week under review.
TBL maintained its top mover position after accounting for 87.8 per cent of the total equity turnover realized during the week.
TBL was followed from a far by CRDB and NMB which accounted for 5.8 per cent and 3.57 per cent of the total equity turnover.
On an annual basis, the total equity turnover for the year 2019, without including the Vodacom and Mirambo transaction, has fallen by 40 per cent compared to the 2018.
The turnover for the year 2019 stands at 124.86bn/- compared to 207.7bn/- realized during the year 2018.
However, when the Vodacom and Mirambo transaction is included, the total equity turnover rises to 624.66bn/-, which marks a 201 per cent growth of equity turnover.
