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DSE ends week on a downward trajectory

DSE ends week on a downward trajectory

The DSE closed the week on a low note, as the All-Share Index (DSEI), shed 16.48 points and pulled down the Market capitalization as the result. The market capitalization was down 0.87% (TZS 137.43Bln).

This comes as the whole of the cross-listed window was bearish during the week; recording a 6.59% decline on the East African Breweries (EABL) from TZS 3,340 to TZS 3,120, followed by National Media Group (NMG) which dropped by 3.75% from TZS 400 to TZS 385 per share.

Jubilee Holdings (JHL) remained unchanged at TZS 6,300 per share while KCB dropped by 2.15% from TZS 930 to TZS 910 per share. As a result, the Market capitalization closed the week at TZS 1,5724.22Bln while the DSEI Index closed with 1,886.49 points.

On the other hand, DSE’s NMB was the top gainer on the week, reaching TZS 2,220 per share representing a 1.83% gain on the counter. In Response, the Tanzania Share Index (TSI) showed some green light and gained 7.45 points pushing the Domestic capitalization to TZS 9,568.49Bln from TZS 9,548.79Bln of the previous week.

Furthermore, the counter (NMB) commanded about 51.13% of the total market turnover, generating TZS 594.98Mln from 271,800 shares traded making it the top mover for the week.

Following closely was CRDB whose share price remained unchanged despite the counter commending about 84% of the share volume on the market. The counter traded approximately a 1.7million shares worth TZS 514.77Mln. On the other hand, the solo agriculture company on the DSE was also on the green this week, moving from TZS 370 to TZS 385 per share by the end of the week.

Market records, places foreign investors as the net buyers for the week, purchasing shares worth TZS 663.16Mln ($ 288,329) equivalent to 56.99% of the week’s turnover and selling only about TZS 261,030 worth of shares (0.02%).

On the contrary, local investors were net sellers, accounting for about 99.98% of the week’s sales turnover a sum of TZS 1.16Bln ($ 505,807) and purchasing shares worth TZS 500.46Mln ($ 217,592) about 43.01% of the week’s turnover.

At the week’s close, the market had generated a total of TZS 1.16Bln ($ 505,921) turnover in 208 deals, transacting a total of 2.05million shares.

This is a decline of about 54.55% from the previous week’s turnover of TZS 2.56Bln while the number of shares traded has doubled from approximately a 1.3million shares traded on the previous week.

Money Market, Bills

The government through the Bank of Tanzania held a Treasury Bills auction during the week. The paper had a total offer amount of TZS 75.7Bln from the 182-day and a 364-day only, the usual shorter tenors i.e the 35 and 91-day papers were not included in this particular auction.

The public tendered a total of TZS 6.3Bln ($ 2.74Mln) in a 182-day paper and TZS 115.3Bln ($ 49.35Mln) in the 364-day bill, making a total tendered amount of TZS 121.6Bln ($ 52.87MLn) an oversubscription of about 60.63%.

The government ended up taking the amount they had initially offered, TZS 75.7Bln. The Weighted Average Yield (WAY) for the papers stood at 3.55% and 5.10% for 182 day and 364day papers respectively.

The Interbank Cash Market (IBCM) which has recently become short of activity, had traded in a single transaction a sum of TZS 3.5Bln ($ 1.52Mln) at a 4.42% interbank rate. The volume traded is a great leap from TZS 500Mln traded on the previous week.

Currency Market

The Interbank currency market volume plummeted by 85.27% to a volume of TZS 2.01Mln in three deals from TZS 13.65Mln transacted on the previous week. The Interbank Foreign Exchange rate places the USD/TZS exchange rate at TZS 2,309.32, indicating TZS weakening against the USD by a mere 0.03%.

orbit@orbit.co.tz; wende@orbit.co.tz

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Mwandishi: Weekly Markets Synopsis

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