The Dar es Salaam Stock Exchange (DSE) experienced bearish trend last week with most of the performance indicators going down when compared to the previous session.
“Although the market turnover increased for more than 40 per cent to 940m/- compared to that of the preceding period, the overall turnover still at low side,” noted Mr Raphael Masumbuko, the Zan Securities Limited, Chief Executive Officer in the weekly wrap ups. He said CRDB led with the most traded shares chart by contribution of 46 per cent of the turnover purchased by local and foreign investors at between 300/- and 320/- per shares.
Foreign purchase increased by 512 per cent to 352m/- from 57m/- of the previous session. Consequently, on weekly comparison, key benchmark indices sustained the downward trend as sentiments stayed negative.
The Tanzania share index (TSI) capped at 2,896.76 points closed low by 0.08 per cent compared with the 2,919.67 points posted a week earlier, while the All share Index (DSEI) closed at 1,881.24 down by 2.2 per cent compared with the 1,923.57 points recorded in the period before.
The Industrial and Allied index sustained downward trend by 0.12 per cent while Bank, Finance and Investment index decreased by 2.11 per cent. Commercial Services index maintained the same points during the week under review.
The DSE Market capitalisation declined by 2.2 per cent to close at 16.6tri/- similarly domestic capitalization dropped by 0.78 per cent this week. In the meantime, the Tanzania Securities Limited (TSL) in its weekly market report forecasts the increased demand in the market supported by speculative motives as companies expect to release their results in this and the coming month.
