Tanzania Weekly Market Report: 1st to 5th April 2013

According to the Weekly Market Report of the week ended on 5th April 2013 issued by CORE Securities, a leading Tanzanian licensed stockbroker, the Dar Es Salaam Stock Exchange (DSE) total turnover decreased by -46% to TZ 857.6 Million (USD 530,863) from TZS 1,594.7 Million, (USD 987,130) both local and foreign investors participated in the market.

Both local and foreign investors participated in the market. Foreign Investors participated by 47.4% while Local Investors by 52.6%

The Market Commentary shows the DSEI (ASI) and TSI were flat edging UP by +0.04% and +1.63% to 1,527.58 and 1,607.86 respectively, compared by 1,521.48 and 1,582.07 of last week.

Most of activities were seen on NMB, CRDB,TWIGA,SWISSPORT and TBL counters.

No T-Bills action was recorded during the week. Government bond of maturity in 7 years exchanged in a secondary market

totaled Tzs 13.41 billion, while no trade recorded for 2, 5 and 10 years bonds.

Spot gold was down to -1.53% to 2.544million per ounce (1 ounce = 31.10 grams) on Friday 5th April, The following is a 30 days gold price movement per ounce.

Moving on to the Exchange Rate section, in comparison to previous week, the shilling lost ground against the USD,ZAR,KES GBP while gained against the EUR

The Annual Headline Inflation for the month of December 2012 remained the same as last November : 12.1%, while decreasing from 12.9% of October 2012. Inflation in Tanzania is estimated to decrease to a single digit in the next three months (IMF Report).

News From Other Sectors

UTT Launched another scheme named as LIQUID FUND.

TCC posted a 21 percent increase of net tax profit to 85.9 bln from 70.9 bln in the year ending 2012.

TPCC posted a 22 percent profit increase to 61,578 from 50,605 in the year ending 2012.

 Barrick Gold Invests U.S$2 Billion in Tanzania Oil, Gas: source AllAfrica Global Media (allAfrica.com).

The full copy of the Market Report is made available by TanzanaInvest.com following a partnership with CORE Securities: http://tanzaniainvest.com/downloads/Tanzania-Weekly-Market-Report-1-5-Apr-2013.pdf