VODACOM Tanzania and Tanzania Breweries Limited (TBL) collectively accounted for 28 per cent of total equity turnover realised on the Dar es Salaam Stock Exchange (DSE) for the first nine months this year.
According to Alpha Capital, TBL registered a total turnover of 25.2bn/- realised at a weighted average price of 6,400/-, discounted by 41.3 per cent from the market closing price of 10,900/-. TBL’s closing price has stagnated at that level for about five years.
While Vodacom accounted for 5.82 per cent of the total turnover during the period, with a monetary value of 6.68bn/- after 12.82 million shares were traded at a weighted average price of 520/-, which was 32.5 per cent lower than the almost three years market closing price of 770/-.
Alpha Capital Head of Research and Financial Analytics said yesterday the two firms’ prices stagnated as the majority of the turnover was realised through a pre-arranged window, at discounted prices compared to the counter’s closing price.
“Collectively,” Mr Muhingo said, “the two giants accounted for 49 per cent of the total domestic market capitalisation”.
Also, TBL was the third largest mover during the period, accounting for 22 per cent of the total turnover, behind CRDB Bank and NMB Bank.
On other hand, Zan Securities Chief Executive Officer Raphael Masumbuko said through the firm’s weekly wrap-up Counters such as NMB, CRDB and Twiga cement have registered double-digit price appreciation in the respective period.
“The year-to-date activities on the DSE have offset risks culminating from global recession fears.
“In broader terms,” Mr Masumbuko said, “we expect domestic stocks to register an uptick in prices in the coming weeks, signalled by good earnings results for quarter three as already disclosed by some listed companies.”
Furthermore, the overall domestic index (TSI) has returned 7.51 per cent year-to-date compared to 2.35per cent in the 12 months that ended last December.
Vertex International Securities, Advisory and Capital Markets Manager, Ahmed Nganya, the equities posted a mixed performance last week as parameters diverged when volume and turnover decreased while prices posted a slight increase.
“The domestic equity market was somewhat resilient closing in green, diverging from the total market performance, which closed in red,” Mr Nganya said adding “we expect a continuation of positive performance for domestic equities as earnings factor’s momentum continues”.
Market activities registered a slight downward slump for the week registering a turnover of 1.335bn/-, marking a week-on-week fall of 43.89 per cent from 2.379bn/- registered in the previous week.
The week’s fall is attributed to a slight reduction in pre-arranged trades within the week indicative of the low turnover figure.
