Share trading at DSE more than doubled thanks to local investors

13Oct 2021
By Guardian Reporter
Dar es Salaam
The Guardian
Share trading at DSE more than doubled thanks to local investors

SHARE trading at Dar es Salaam Stock Exchange continued its rally with turnover more than doubling to 1.37bn/- compared to 510m/- that was generated during the previous week.

DSE’s CEO, Moremi Marwa.

According to Orbit Securities’ weekly market report for a period ending October 8, 2021, a total of 3,589,772 shares were traded on the bourse during the course of the week as compared to 686,039 shares traded in the previous week.

“CRDB was this week’s top mover, accounting for 54.856 percent of the turnover,” the report said. Other major gainers of the week included JATU, DSE, NICOL and TCCL who traded 47,040; 5,230; 14,605; and 6,350 shares.

The All Share Index (DSEI) lost 22.50 points in value as EABL, KCB and NMG lost 4.49; 2.06; and 3.16 percent respectively of their share value by the end of the week. The Tanzania Share Index (TSI) on the other hand, gained 0.46 points as JATU and DSE counters increased by 10.61 and 8.33 percent respectively.

“Local investors dominated the market as they accounted for 99.44 percent of purchases in the market and 100 percent of sold stocks while foreigners accounted for the remaining 0.56 percent,” the report added. The net foreign inflow for the week was 7.67m/- compared to the week prior’s 110.810m/- as participation from foreign investors in buying shares slowed down.

Meanwhile, the Interbank Foreign Exchange Market (IFEM) traded a total of 22.38m/- which accounted for a decrease of 79.58 percent from the 109.6m/- generated during the previous week. A total of 49.8bn/- was transacted on the Inter Bank Cash Market (IBCM) last week at a weighted average rate of 3.53 percent. According to Bank of Tanzania (BoT), the total amount of the traded sum dropped by 44.36 percent from the 89.5bn/- that was traded during the preceding week.

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