DSE's activities down, stock prices up.

THE Dar es Salaam Stock Exchange (DSE) main investment market (MIM) activities declined further last week by almost 84 per cent, but the indices rallied with modest gain.

The activities levels slowed to 1,182,582 shares, a decline of 83.35 per cent compared to last week's performance where 7,099,569 shares changed hands.

Tanzania Securities Business Analyst Brenda Rose Massay attributed the decline to limited supply on Industrial and Allied Sector (IA) and low activities on the banks counters.

"IA segment was illiquid this week compared to the previous week," Ms Massay said adding "the Banking segment's activities were higher but turnover was lower compared to the IA."

On other hand, the DSE all share Index (DSEI) closed 1.55 per cent higher at 1,870.52 points while the Tanzania Share Index (TSI) ended the week at 2,477.91 points or 1.45 per cent higher. "Indices continued with the recovery and rallied with modest gains for both DSEI and TSI," Ms Massay said on her firm's weekly report.

The Banking segment Index settled 2,424.28 points, gained by 1.76 per cent stronger than previous week due to gains made on the CRDB counter by 5.36 per cent to 295/- a share.

"The sector moved 30 per cent of the market turnover and 87 per cent of the total volume changed hands during the (last) week," the report shows.

The IA Index strengthened by 1.35 per cent to 2,792.32 points buoyed by TBL and TCC counters that gained 40/- and 300/- to 5,540/- and 8,600/- per share respectively.

Also, week-on-week turnover slipped by 43.78 per cent to 1.397bn/- from last week's 2.485bn/-. The Tanzania Securities, however, was upbeat saying looking forward, they anticipating improvement on the supply side, particularly on the IA counters and more activities from foreign investors on the CRDB and NMB counters.
SOURCE: daily News