Tanzania Equity Watch | 9 July 2015: Tanzania equity market backed to bearish street … DSEI falls 108bps, market cap down US$112 million

Dar es Salaam, Tanzania (Capital Markets in Africa):- Tanzanian stock market backed to bearish after two days’ in the bull street. The market capitalization surged by TZS 253.29 billion (US$ 111.5 million) to end at TZS 23,044 billion relative to TZS 23,297 recorded at previous trading session.

The Dar es Salaam Stock Exchange (DSEI) tumbled by 28.70 points or 1.08 percent to close at 2,632.84 points and the Tanzanian domestic Share Index plunged by 24.23 points or 0.52 percent to close at 4,615.31 points. The Banks, Finance & Investment (BI) sector index plunged 1.91 percent or 63.16 to settle at 3,327.32 points and Industrial & Allied sector index marginally plummeted by 0.03 percent at 6,063.43 points. However, the Commercial Services sector index remained unchanged to conclude at 4,011.88 points.

On the market activity, the Dar es Salaam Stock Exchange recorded a total turnover of TZS 219.98 million from 102,831 shares traded in 48 deals compared to the previous session which recorded a turnover of TZS 884.68 million from 75,349 shares traded in 40 deals. CRDB had 80,671 shares; National Microfinance Bank exchanged 11,620 shares and Tanzania Cigarette Company recorded 6,590 volumes.

The market strength ended negative, with 3 advancers and 7 decliners. News Media Group tops the advancers’ chart, by adding 3.84 percent to end at TZS 4,060. It is followed by CRDB Tanzania Limited, by surging by 1.25 percent to settle at TZS 405.00 and then ACACIA Mining ended at TZS 9,350.00 after gaining 0.97 percent.

On the other hand, Kenya Airways ended with price of TZS 140.00 by losing 6.67 percent to emerge at the top losers. News Media Group tumbled by 2.98 percent to end as second biggest loser with closing price of KES 3,910. Similarly, Uchimi Supermarkets Limited plummeted by 5.56 percent at TSZ 170.00 and National Microfinance Bank tumbled by 3.64 percent to settle at TSZ 3,180. Other losers today were East African Breweries Limited, KCB Group and Jubilee Holdings Limited fell by 3.29 percent, 2.63 percent and 1.39 percent at TZS 5,580.00, TZS 1,110.00 and TZS 11,370.00 respectively.