AfricaPress-Tanzania: THE Dar es Salaam Stock Exchange (DSE) total equities market turnover spiked by 81 per cent in seven days to last Friday, thanks to local investors’ appetite.
The exchange equities market turnover posted a weekly turnover of 13.23bn/- compared to 7.29bn/- of the previous week.
The turnover volume was pushed by local investors who participated fully. Foreign investors’ participation was nil last week.
Zan Securities Chief Executive Officer Raphael Masumbuko said the upward momentum continued and expected the trend to continue this week albeit block trading.
“The domestic equity market continued with upward momentum this week. We expect block trades to continue boosting the performance next week,” Mr Masumbuko said in the weekly market wrap-ups issued yesterday.
According to Zan, TBL counter dominated the market share, recording 94.47 per cent of the total turnover followed by TPCC with 2.06 per cent.
However, despite TBL to dominate trading volume, CRDB Bank share price pushed domestic market capitalisation by 0.29 per cent.
CRDB gained 6.67 per cent to close at 160/- a share to push domestic market capitalisation to 9.156tri/- the week ending last Friday.
On the other hand, CRDB gain failed to cushion the effect for some of cross listed stocks down spiral, thus affecting the bourse total market capitalisation that decreased by 1.21 per cent to 14.504tri/-.
CRDB gain also assisted to push Tanzania share index (TSI) to close at 3,486.83 points, 0.29 per cent up, while All Share Index (DSEI) decreased by 1.21 per cent to close at 1,747.05 points.
The sectorial indices closed at mixed reaction where two indices stagnated, while one raised.
Industrial an Allied Index (IA) closed at 4,743.61 points, like a week before.
Bank, Finance & Investment Index increased by 1.52 per cent to close at 2,215.92 points. Commercial Services Index closed at 2,356.49 points, same as last week.
