According to recent reports, the counter for Tanzania’s CRDB Bank Limited dominated trade at the Dar es Salaam Stock Exchange (DSE) last week, accounting for a total of 93.4 percent of the overall turnover, resulting from the transaction of 48,887,127 shares worth TSh 8,555.42 million in 2,071 deals.
These favorable prices for one of the leaders in the Tanzania banking sector arrived in spite of the fact that its share price dropped from Tsh 180 during the previous week to TSh 175 last week from Sh180.
In addition, a total of 2,275,465,440 million ordinary shares were listed by the bank in June through an offer for sale of Tsh 150 each, which was later increased to Tsh 200 a share with a market capitalization remaining at Tsh 455.09 billion.
The share later price dropped again to Tsh 175, resulting in the lowering of its market capitalization to Tsh 398.21 billion.
Last week, the total market capitalization of the DSE was reported as resting at Tsh 5,120.66 billion, which is lower than the reported Tsh 5,129.13 billion capitalization that was listed from the previous week.
During this same period, the market capitalization for the local company also fell from Tsh 1,931.97 to Tsh 1,923.5 billion.
Overall, the DSE traded 49,616,310 shares worth a total of Tsh 9,157.01 million in 2,434 deals last week, which is significantly more than the previous week when the bourse traded a total of 1,034,669 shares worth Tsh 1,287.67 million in 469 deals.
In addition to the CRDB bank, other members of the DSE who’s counters were modestly active during last week’s trading session included TBL, Twiga, Nicol, DCB, NMB and Simba, while the counters KA, JHL, TCC, TOL, Swissport, KCB, Tatepa and EABL remained inactive.
By the end of last week, the TBL counter had traded 2,480 shares of Tsh 4.46 million in eight deals, which is less than the results from the previous week when the company traded 11,265 shares of Tsh 20.32 million.
At the same time, the Simba counter witnessed the transaction of 1,703 shares worth Tsh 3.1 million in four deals last week compared to the 12,447 shares worth Tsh 22.65 million it saw during the previous week.
In addition, the turnover for the Twiga counter for last week totaled Tsh 157.65 million with a total of 100,521 shares traded in 29 deals compared to the 652,009 shares worth Tsh 1,017.07 million that were traded in 99 deals the week before.
Following in this pattern, the DCB counter transacted 1,100 shares worth Tsh 0.39 million in two deals last week, which is also lower than the 1,900 shares that it traded during the week before and were valued at Tsh 0.67 million.
The NMB counter, on the other hand, transacted a total of 622,504 shares last week worth Sh435.75 million in 318 deals, which is an increase from the 299,420 shares valued at Sh209.59 million that were traded in just 232 deals from the previous week.
Finally, the reported turnover for the Nicol counter from last week had a worth of Tsh 0.24 million that was earned after having traded 875 shares in two deals, which is less that the report from the previous week of Tsh 8.4 million from 30,000 shares from a total of six deals a week earlier.
According to the final report from last week’s session, most of the share prices and market capitalizations for companies listed on the DSE remained idle.