DSE MARKET TURNOVER REBOUNDS

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AfricaPress-Tanzania: DAR ES SALAAM Stock Exchange (DSE), registered one of the highest weeks equities market turnover since the outbreak of coronavirus pandemic last week, thanks to return activities on TBL counter.

The turnover climbed over 40 fold to surge to 5.67bn/-was almost five times for the entire last month amount of slightly over 370m/-and combine some of April 1.4bn/-and May.

The bourse turnover, since the outbreak of Covid-19, in some weeks dropped to couple of million shillings to threatening business of stockbrokerage firms for the over 20 years old exchange.

Zan Securities Chief Executive Officer (CEO), Raphael Masumbuko said TBL dominated the market share by 98.51 per cent of the total turnover followed by CRDB by far.

“The equity market performance surged this week. We expect more improvement in the weeks ahead,” Mr Masumbuko said in the firm’s weekly market wrap-ups report over the weekend.

The report showed that during the week the total market capitalisation increased by 0.16 percent to15.006tri/-.

However, the TBL counter failed to stimulate domestic market capitalisation that  declined slightly to 9.157tri/-.

The two key indices closed the week at mixed trend as one walked northward while the other southward.

Tanzania Share index (TSI), measured the in-depth of local listed shares, closed at 3,486.90 points, 0.14 percent down.

On other hand, All Share Index (DSEI), increased by 0.17 percent to close at 1,807.47 points thanks to cross-listed shares.

The sector Indices closed as follows: Industrial and Allied Index (IA) closed at 4,778.72 points, same as last week.

Bank, Finance and Investment Index declined 0.76 percent at 2,165.76 points. Commercial Services Index closed at 2,356.49 points, same as last week.

The first Friday of this month went into history books as DSE recorded a zero trading for the exchange that has almost 30 listed firms.

That week the bourse ended with a total turnover of 12.78m/- against last week 317.06m/-after the activity on TBL counter worn-off. In May, DSE total equity turnover plummeted by 73.4 percent to 373.36m/-compared to 1.4bn/-in April.

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