Tanzania Equity Watch | 1 July 2015: Tanzania equity market continues on the bearish mood, drops TSZ 517 billion

Dar es Salaam, Tanzania (Capital Markets in Africa):- Tanzanian stock markets continued on bearish path for third day. The market capitalization further lost TZS 516.6 billion to end at TZS 23,349 billion relative to TZS 23,865 recorded at yesterday’s trading session.

The Dar es Salaam Stock Exchange (DSEI) fell by 59.88 points or 2.18 percent to close at 2,667.39 points. However, the Tanzanian domestic Share Index slightly rose by 5.54 points or 0.12 percent to close at 4,689.63 points. The Banks, Finance & Investment (BI) sector index gained 0.63 percent to end at 3,431.34 points but Industrial & Allied sector index lost 0.07 percent to close at 6,067.82 points. The Commercial Services sector index remained flat to close at 4,016.07 points.

From the market activity angle, total turnover of TZS 17,328.50 million from 5,238,479 shares traded in 54 deals compared to the previous session which recorded a turnover of TZS 373.00 million from 667,975 shares traded in 85 deals. In term of type of investor, foreign buys stood at 76.75 percent of total turnover, while foreign sales stood at 0.24 percent of total turnover. Tanzania Breweries Limited had 1,037,463 shares traded to close TZS 15,000 and CRDB registered 4,184,700 shares with a closing price of  TZS 410.00.

The market sentiment was negative today, with 7 losers and 3 gainers. News Media Group top the gainers’ chart, by adding 7.86 percent to end at TZS 3,980.00. It is followed by CRDB Bank gaining 2.50 percent to settle at TZS 410.00 and then TOL Gas Limited ending a TZS 640.00 after increasing by 0.79 percent.

On the other hand, Kenya Airways tumbled by 6.67 percent to end as biggest loser with closing price of KES 140.00. Equally, KCB GROUP (-5.26 percent at TZS 1,080.00) and East African Breweries Limited (tumbled by 4.32 percent at TZS 5,980.00). Still on the losers, ACACIA MINING Limited plunged by 3.96 percent to close at TSZ 9,220.00 and Jubilee Holding Limited went down 2.96 percent to close at TSZ 11,130.00.