Investors’ wealth dips at Dar bourse after election
Monday November 09 2020
Tanzania’s Dar es Salaam Stock Exchange (DSE) lost over $43,522.90 (Tsh100 million) on its market capitalisation in the week after its general election. PHOTO | FILE | NMG
Post-election week has seen Tanzania’s Dar es Salaam Stock Exchange (DSE) losing over $43,522.90 (Tsh100 million) on its market capitalisation and more than 10 points off the All Share Index (DSEI) compared with the performance before the polls.
The DSE recorded a total market capitalisation of $6.430 billion (Tsh14.775 trillion) on November 5, lost over $53,912 (Tsh123.87 million) from $6.484 billion (Tsh14.899 trillion) recorded one day before voting, Tuesday, October 27.
The All Share Index (DSEI) plunged to 1,779.65 from 1,794.56 recorded October 27, and 1,793.59 DSEI on October 26.
Stocks records were higher on Monday, October 26 with DSE recording a total of $1.109 million (Tsh2.549 billion) from 14,769,810 shares traded in 23 deals; and $657,196 (Tsh1.51 billion) from bonds traded in three deals.
“On the Block Trade Pre-arranged Market board, CRDB counter traded a block of 14,600,000 shares while in the Normal Board, CRDB, MKCB, TCCL and TPCC were the top movers of the day,” the DSE market report of October 26 reads.
CRDB counter had 150,870 shares traded at weighted average price of $0.073 (Tsh170) per share in 12 deals, while MKCB counter had 260 shares traded at weighted average price of $0.076 (Tsh750) per share in one deal.
WEIGHTED AVERAGE
TCCL counter had 2,670 shares traded at a weighted average price of $0.217 (Tsh500) per share in one deal. TPCC counter had 16,010 shares traded at a weighted average price of $1.088 (Tsh2,500) per share in six deals.
DSE bounced back November 2, when 107,382 shares were traded in 28 deals and eight deals for bonds. It recorded a turnover of $57,467.60 (Tsh132.04 million) and $6.393 million (Tsh14.69 billion) on bonds, the highest in elections.
On the Normal Board, the CRDB counter had 58,662 shares traded at a slightly increased weighted average price of $0.076 (Tsh175) per share in eight deals. TOL counter had 170 shares traded at a weighted average price of $0.239 (Tsh550) per share in one deal, TPCC counter had 48,320 shares traded at weighted average price of $1.094 (Tsh2,515) per share in 17 deals.
Vodacom counter had 130 shares traded at weighted average price of $0.322 (Tsh740) per share in one deal and YETU counter had 100 shares traded at weighted average price of $0.217 (Tsh500) per share in one deal.
“Shareholders attitude towards management is largely determined by its demonstration of performance as far as the company's strategic, operational and financial performance is concerned,” explained Moremi Marwa chief executive officer of the DSE.