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DSE trading seen in ‘brisk trot’

Similarly, the shares traded rose to 1,672,075, almost thrice compared to the previous 611,024 which changed hands at the market.

The increase, according to the Tanzania Securities Limited (TSL) weekly market commentary, was mainly attributed to the outstanding performance posted at TBL, NMB, CRDB and Swissport counters.

TBL had a pre-arranged bulk transaction for 689,999 shares with a turnover of 2.1bn/-. The indices continued with recovery and rally with modest gains for both Dar es Salam Stock Exchange (DSEI) and the Tanzania Share Index (TSI). The DSEI closed 0.42 per cent higher at 1,512.14 points while the TSI ended the week at 1,542.5 6 points, a 1.78 per cent increase.

The Banking segment Index settled 1,296.24 points, a 4.87 per cent stronger than the previous week due to gains made on the NMB counter of 5 per cent increase. The Industrial and Allied Index strengthened to 1,842.89 points, a 0.48 per cent higher buoyed by TBL and TCC counters that gained 20/- and 40/- to 3,100/- and 5240/- per share respectively.

The segment closed positively during the period under review on the backdrop of a 56 per cent of the total market activity and 11 per cent of the turnover transacted. CRDB was a top mover buoyed by foreign investors’ participation whereby out of the 709,700 shares the counter moved 87 per cent of the total volume.

The counter closed flat during the week. The NMB ended the week at higher price of 1,260/- from 1,200/- of last week. The counter transacted 116,705 shares. Foreign contribution on the counter was 60 per cent of the counter’s turnover. TBL was the most active counter among the Industrial and Allied segment during the week with a total of 692,759 shares transacted.

Swissport counter followed with 25,000 shares changing hands at a price range of between 1,800/- and 1,820/- each. Twiga counter had 21,613 shares traded at 2,600/- per share, TCC traded 450 shares at 5,240/- per share and Simba 600 shares at 2,400/-.

There were no activities on TTP, TOL and Precision Air during the week. “We expect the equities market to continue experiencing enthusiasm as liquidity improves in the economy and more investment flow into the bourse to take advantage of the strengthening fundamentals in the economy and the market,” stated the report.

THE African Development Bank has invested 50 million ...

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Author: SEBASTIAN MRINDOKO

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