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Manufacturing firms reign on DSE trading

The Tanzania Securities Limited (TSL) weekly market commentary highlights Twiga Cement as the market top trader with proceeds amounting to 1,248m/-, over 86 per cent of the total turnover.

According to the report, Simba Cement and Tanzania Breweries Limited (TBL) counters recorded returns accounting about 1.84 per cent and 1.61 per cent of the market turnover, respectively. Simba was the only counter to experience price changes, with its stock surging to 2,400/- from 2,380/-.

In the commercial sector, Swissport counter maintained its low level of activity despite strong demand, registering a turnover of 8.68m/- at flat share price of 850/-, stated the report. Bank counters had their businesses decreasing slightly to 9.5m/-, about 10 per cent of the total turnover, with NMB emerging the top trader in the sector.

Likewise, the DCB and CRDB recorded turnovers of 0.02m/- and 1.72m/-, respectively. Strong supply at CRDB counter saw the price of the stock decreasing by 6.25 per cent to 150/-, the report shows. However, the turnover and volume of shares traded at the equity market declined by 46.30 and 51.03 per cent, respectively.

A turnover of around 1,444.75m/- from trading of 931,524 was recorded during the week. Both DSE all share index (DSEI) and Tanzania share index (TSI) edged downwards over the week due to fall in price of CRDB shares amid appreciation of Simba shares. DSEI and TSI closed the week at 1,298.34 and 1,119.58 points, respectively.

Foreigners’ participation remained minimal at 0.9m/- during the week. “We anticipate improvement in the level of activity at the market in the coming week as investors keep on missing out in auctions for government securities,” said Mr Joel Nkya,
the TSL business analyst.

He said excess supply of funds to invest in money market instruments and government securities will push rate of return in the money market further down, impacting positively on trading at the stock market.


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