According to the weekly market commentary by the Tanzania Securities Limited (TSL), shares traded declined to 216,734, a 65 per cent down from the preceding period which had 627,377 stocks.
“However, the Tanzania Breweries Limited (TBL) made a surprise bounce back with 6.7 per cent to settle at 2,560/- per share increase,” stated the report. The TBL performance is an indication that investors who were sitting on the sidelines in the last few weeks have now started to come back to the counter with an upward trajectory.
The weekly trading session at the bourse also witnessed the Tanzania Oxygen Limited (TOL) share prices surging by 1 per cent. The outstanding performances of the two firms consequently made the indices to have an upward swing towards the end of the week to close the period with positive numbers.
For example, the Dar es Salaam Stock Exchange All Share Index (DSEI) surged upward to end the week at 1322.36, which is 0.32 per cent high while the Tanzania Share Index (TSI) inched north to settle at 1,221.12, a 1.47 per cent rise. The report revealed further that despite the market’s slump that was experienced a few weeks ago, most counters remained flat. However, for the fourth week in a row, CRDB continued with a downward trend to close the week at 130/- per share, 3.7 per cent down although its counter continued to be active.
As recently noticed, states the report, the continued decline could probably be a shared uneasiness among some of the active investors with the counter’s short term dividend policy. In the trade deal during the week, banks accounted for 43 per cent of the total volume traded, and 35 per cent of the market value. NMB accounted for more than half by chalking 54 per cent of the banks’ activities for the week as it continued to trade at 900/- per share.
The bank finally announced its much anticipated dividend of 50/- per share at the end of the trading week. The Dar es Salaam Community Bank (DCB) on the other hand, had 20,655 shares which traded at 640/- a piece. The counter has continued to enjoy significant local support buoyed by its dividend policy.
The Swissport had 20,800 shares which exchanged hands at 1,000/- per piece. Simba Cement had 34,288 shares which traded at 2,380/-, while Twiga Cement had 4,752 shares selling at 2,400/-.