Tanzania Weekly Market Report: 8th to 12th April 2013

According to the Weekly Market Report of the week ended on 12th April 2013 issued by CORE Securities, a leading Tanzanian licensed stockbroker, the Dar Es Salaam Stock Exchange (DSE) total turnover increased by 366% to TZS 3,999.4 Million (USD 2.466 Million) from TZS 857.6 Million (USD 530,863) the week before.

Both local and foreign investors participated in the market. Foreign Investors participated by 35.27% while Local Investors by 64.73%

The Market Commentary shows the DSEI (ASI) and TSI were down by -0.18% and -0.74% to 1,524.77 and 1,595.97 respectively, compared by 1,527.58 and 1,607.86 of last week.

Most of activities were seen on CRDB,SIMBA and TBL counters.

Government Securities

T-Bills action was done on 10th April 2013 with a total of 55 sucessful bids for a total of TZS 93,826.6 Million (USD 57.864 Million).

Gold

Spot gold was down to -7.12% to 2.399 Million (USD 1,479.5) per ounce (1 ounce = 31.10 grams) on Friday 12th April.

Forex

Moving on to the Exchange Rate section, In comparison to previous week, the shilling lost ground against the EUR, USD, ZAR, KES and GBP.

Inflation

The annual headline inflation for the month of March decreased to 9.8% from 10.4% as from February 2013, However inflation will decrease to a single digit in three month to come (IMF report).

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-8-12-Apr-2013.pdf