DSE total equity turnover slumps by 31.5pct to 1.8bn/-

25Nov 2021
Geoffrey Nangai
DAR ES SALAAM
The Guardian
DSE total equity turnover slumps by 31.5pct to 1.8bn/-

TOTAL equity turnover at the Dar es Salaam Stock Exchange (DSE) declined by 31.5 percent last week to 1.8bn/- as compared to a bullish 2.6bn/- that was posted the week earlier.

Market analysts attributed the rocky performance to low local investors’ appetite during last week’s trading session.

According to the DSE, a total of 1,694,388 shares were traded on the exchange during the five - day trading session.

NMB shares continued to rally for the forth-consecutive week with the bank emerging, as the week’s top accounting for 61.2percent of the week’s turnover on the market .The Runner up was CRDB at 25.9 percent  followed by the self-listed DSE at 7.7 percent.

 

Last week’s top gainer was Simba/TCCL appreciating by 10 percent  to end the week at 495/- per share, followed by NMB at 2,040/- per share up by 8.5 percent  and DSE closed at 1,300/-  per share, up by 6.5 percent.

Jatu share price on the other side, depreciated by 16.6 percent  to end the week at 450/- per share while DCB’s share price declined by 5 percent  to 190/-

The CRDB share price declined by 4 percent closing at 240/- while TOL share price was down by 3.7 percent  closing at 510/- per share.

Investors will continue to choose the banking sector shares as the sector posted impressive third quarter results as the country continues to bounce back from the perils of the COVID 19 crisis suffered last year, said Zan Securities, one of the leading brokers.

“Our view of the market leans favorably to equities that have posted strong quarter three earnings. As it has recently been the highlight of previous weeks, we expect to continue to see more activity for companies that have released their quarter three earnings,” according to the Zan Securities weekly outlook.

According to the weekly Orbit Securities market report; there was an increase in foreign Investors’ participation that accounted for the majority of transactions on both the buy side and the sell side last week accounting for 62.8 percent and 83.1 percent of selling and buying activities in the market respectively.

“Local investors accounted for the remaining 16.8 percent  and 37.16 percent  of buying and selling activities in the market during the course of the week,” the report said.

As a result of increased participation from foreign investors, the week closed having a net foreign inflow of 366m/- into the market as compared to the previous week’s Net Foreign outflow of 1.7bn/

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