Tanzania Weekly Market Report: 18 to 22 Mar 2013

According to the Weekly Market Report of the week ended on 22th March 2013 issued by CORE Securities, a leading Tanzanian licensed stockbroker, the Dar Es Salaam Stock Exchange (DSE) total turnover increased by 167% to TZ 795.50 Million (USD 492,476) from TZS 297.56 Million, (USD 184,212) both local and foreign investors participated in the market.

Both local and foreign investors participated in the market. Foreign Investors participated by 70.7% while Local Investors by 29.3%

The Market Commentary shows the DSEI (ASI) and TSI were flat edging UP by +0.37% and +1.53% to 1,522.15 and 1,584.88 respectively, compared by 1,516.52 and 1,561.06 of last week.

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CRDB gained by +1.56% to 162.5, TCC gained by +4.35% to 5,760, SWISSPORT gained by 4.40% to 1,900, TWIGA gained by 0.77% to 2,620 while TBL lost by -0.60% to 3,080 and DCB by (-3.20% to 600) Most of activities were seen on NMB, CRDB and TBL counters.

Regarding the Government activity, last Treasury Bills auction was done on 13th March 2013, with 118 successful bids and a total amount of TZS 135,000 Million (USD $ 83.2 Million).

Spot gold was up to 0.85% to 2.559 million per ounce (1 ounce = 31.10 grams) on Friday 22nd March.

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

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

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-18-22-Mar-2013.pdf

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