Tanzania: Dse Closes April On High Note

DAR ES SALAAM Stock Exchange (DSE) closed April with a strong performance as equity turnover more than tripled compared to March.

The April’s equity turnover jumped three times to 16.5bn/- from 5.15bn/- that was generated in March.

Orbit Weekly Market Synopsis showed that during the month under review the number of shares traded tripled to over 21 million from 7.7 million traded in March.

“Foreign investors maintained their lead on the market, where they consisted of the majority buy-side and sell-side activity,” Orbit weekly report said.

The foreign investors dominated the share purchasing spree by 80.41 per cent equal to 13.25bn/- while at the same time selling 77.8 per cent of shares worth 12.83bn/- in April.

Local investors bought shares worth 3.23bn/- and sold shares 3.66bn/- equivalent to 19.59 per cent and 22.18 per cent on both buy and sell sides respectively.

The two main Indices tracking all shares and domestic shares DSE Index (DSEI) and Tanzania Share Index (TSI) recorded more or less no changes.

“As opposed to the previous month the bourse kept on a low profile in April where the overall sentiment was bearish,” Orbit said.

The DSEI went down slightly by 0.04per cent while the TSI improved by mere 3basis points (bps).

In a rare occurrence, the report showed Vodacom traded about 10 million shares that generated a turnover of about 5.3bn/-.

This made the counter the top mover in April as it accounted for over 30 per cent of turnover and over 40 per cent on the number of shares traded, Orbit said.

About 99 per cent of the volume generated by Vodacom originated from the pre-arranged market hence had no influence on the counter’s share price.

Other active counters included TBL which accounted for about 27.8 per cent of market turnover at 4.58bn/- turnover, followed by CRDB and NMB Banks both accounting for 16.45 per cent and 8.88 per cent generating equity turnover of 2.7bn/- and 1.46bn/ respectively for the month.

Swissport, Twiga Cement, DSE Plc, NICO and Jatu also comprised the active counters in April month.

On the domestic counters Jatu, DSE and Twiga recorded positive changes, with Jatu gaining by 30 per cent cementing its position as the top gainer. The rest of the domestic counters edged downwards.

The cross-listed counters yet again maintained a bearish trend for April same as previous months.

Only National Media Group (NMG) recorded a positive price change by 12.5 per cent from 400/- to 450/-.

The rest of the shares recorded a downward movement, led by KCB Bank which dropped by 17 per cent from 880/- to 730/- per share, EABL down by 4.67 per cent from 3,000/- to 2,860/- and Jubilee Holdings (JHL) which declined by 3.67 per cent from 5,450/- to 5,250/- per share.

In weekly basis, the DSE equity market posted a bullish performance to end last week, with a solid turnover of 3.37bn/-, up by 45 per cent compared to last week, attributed by pre-arranged block trades.

TBL counter dominated last week’s volume traded market share by 71.70 per cent after a pre-arranged block trade, followed by CRDB at 16.45 per cent and lastly Twiga at 7.47 per cent.