DSE turnover down despite improvement in key indices

Dar es Salaam. Turnover at the Dar es Salaam Stock Exchange (DSE) fell by 30 percent during the 47th Dar es Salaam International Trade Fair (DITF) week.

The fall was largely fuelled by the prolonged trend of low foreign investor participation.

The turnover was Sh550.72 million by the end of the trading session on Thursday, July 6, 2023, a decrease from Sh790.06 million of the preceding week.

An analysis by Vertex International Securities Limited show that there was no foreign activities in the market last week.

CRDB Bank Plc was a top market mover last week, accounting for 51.9 percent of total market turnover, followed by Nicol with 13.52 percent and NMB Bank Plc with 12.58 percent.

However, there were positive price movements during the week, pushing the total market capitalisation up by 0.55 percent to Sh15.09 trillion.

DCB was the top gaining counter last week closing at Sh150. That was an improvement of, 7.14 percent compared to the proceeding week. Swissport gained by 6.67 percent to close at Sh1,600 while Nicol gained by 5.56 percent to close at Sh475, up.

TOL lost by 4.62 percent. It closed at Sh620 while Tanga Cement closed at Sh1, 760, which was 2.22 percent down. The self-listed DSE Plc lost by 1.09 percent to close at Sh1,820.

“We expect an increase in turnover and volume next week as financial counters such as NICO may drive up market activities following the release of strong financial results for the FY2022,” said capital markets manager at Vertex International Securities Limited Mr Ahmed Nganya.

Other market performance indicators also closed in the green as All Shares Index (DSEI) increased by 0.55 percent to close at 1,809.88 points as KCB, EABL, and JHL appreciated and Tanzania Shares Index (TSI) increased by 0.21 percent to close at 4,100.49 points.

Banks, Finance, and Investment (BI) closed at 3,932.18 points, 0.07 percent up as NICO and DCB increased. Industrial and allied (IA) closed at 5,122.32 points, 0.3 percent up as TPCC increased and Commercial Service (CS) closed at 2,159.53 points, 0.2 percent up as Swissport saw an uptick.