Dar bourse overcomes election fears for turnover increase by Sh28 billion

47pro · 2015-09-06T09:41:12+00:00

The Dar es Salaam Stock Exchange (DSE) turnover rose suddenly last week as the bourse attracted local and foreign investors. The week-on-week turnover increased to Sh29.9 billion last week compared with Sh1.7 billion the previous week, according to weekly reports released by brokerage firms. The DSE has been performing poorly recently due to what analysts called election fears but last week the situation turned around. â€œThere are new investors who normally do not consider election as risk and those who have been participating for a long time and rate Tanzania as a stable country in political environment. This is what possibly happened last week and result in high turnover,â€ said Mr Raphael Masumbuko, chief executive officer of Zan Securities. Tanzania Breweries Ltd (TBL) and CRDB Bank Plc emerged as the weekâ€™s top traded equities contributing 84.20 per cent and 11.14 per cent of the weekâ€™s total turnover respectively. Swissport emerged as the top gainer dominating the price movement within listed local companies as it experienced a Sh210 or 2.88 per cent increase per share, closing at Sh7,510 per share. For cross-listed companies, share prices remained constant, yielding no top gainers. â€œWe foresee relatively more activities on the banking and industrial sectors in the coming week due to the increased support on the banking counters [NMB and CRDB] and industrial counters [TBL, Swissport and Simba] supported by good performances on these counters,â€ said the Tanzania Securities Ltd in its weekly commentary. The Tanzania Share Index (TSI) capped at 4,616.52 points, higher by 0.45 per cent compared with 4,595.96 points posted previously while the All Share Index (DSEI) closed at 2,484,21points, lower by 3.70 per cent compared with 2,579.71 points earlier. The total market capitalisation experienced a downward trend by 3.65 per cent, closing at Sh21.76 billion. The domestic market capitalisation experienced an increase by 0.44 per cent closing the week at Sh9.78 billion

Thread starter 47pro
Start date Sep 6, 2015

47pro

JamiiForums uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.

Accept Learn more…

Back

Top Bottom

Forums

New posts

Dar bourse overcomes election fears for turnover increase by Sh28 billion

47pro

JF-Expert Member

Our Community

Regional Communities