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Total turnover at the Dar es Salaam Stock Exchange (DSE) fell for a second straight week last week due to low participation of foreign investors in trading activities.

 

Last week, turnover fell by 65.5 percent when only Sh623.3 million was realised from Sh1.8 billion of the preceding week.

 

The Sh1.8 billion which was recorded during the first week of October was also a decline from Sh2.97 billion that was registered during the last week of September.

Analysts say slowdown in trading activities signals that investors were playing the wait-and-see approach as they wait for the release of third quarter financial results of listed companies.

 

Capital markets manager at Vertex International Securities Limited Ahmed Nganya said market data had indicated that all the parameters (transaction volume, turnover and prices) had closed in red.

 

“We therefore expect a slight improvement in performance next week as more financial results are released,” said Mr Nganya.

 

CRDB Bank Plc accounted for 64.24 percent of last week’s turnover. NMB Bank Plc and Twiga followed with 25.16 percent and 7.37 percent respectively.

 

Nicol was the only counter that gained last week. Its share price rose by 4.55 percent.

 

Simba lost by 7.14 percent while DCB and Twiga lost by 5.88 and 2.63 percent respectively.

 

The price depreciations sent the total market capitalization down by 0.71 percent to close at Sh15.28 trillion while the domestic market capitalization was down by 0.44 percent. It closed the week at Sh10.15 trillion.

 

The Citizen TZ

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