JENGA AFYA TOKOMEZA UMASIKINI Everything was dropping on the stock market during the week that ended on the 24th of
While some counters, including TBL and NICOL released half year financial results, but the results of TBL had no impact to entice activities on the counter.
TBL reported an increase in the revenue after a deceleration for three years. Revenue grew by 5% while selling and distribution expenses grew by 18% as a result lowering the growth of the operating profit which grew by 0.2%. Tax expenses dropped by 50% and boosting the net profit by 23%.
TBL has not announced an interim dividend as the brewery is still taking a cautionary note on the liquidity of the firm relative to the associated market risks.
The Tanzania Share Index (TSI) dropped by 1.65 points to settle at 3,614.33 points at the end of the week.
The drop of the TSI was a result of a sharp drop of the price of
The domestic market capitalization dropped by 0.046% to close the week at
The All Share Index (DSEI) was not left behind as the index lost 17 points following a drop of prices of the two cross listed giants.
The two giants neutralized the bull on the
The DSEI closed the week at 1,972.64 points. Equity turnover dropped by 77.3% as activities on the TBL counter muted despite positive results for the half year of 2021.
The total equity turnover amounted to
The prearranged market saw 64 deals on the NMB counter worth
The prearranged market accounted for 65.6% of the total turnover while NMB accounted for the same. Normalizing the prearranged market, CRDB would have been the top mover accounting for 70% of the total turnover. Foreign participation dwindled again during the week, standing at a minimal 0.45% on the purchase side.
There was minimal interest from foreigners on NICOL and CRDB. Local investors were dominant, accounting for 99.55% and 100% of the buy and sell side.
Market, Bills and Bond The value of transactions on the Interbank Cash Market (IBCM) more than doubled on a weekly basis while the number of trading sessions remained at four, similar to the previous week.
The total turnover for the week amounted to
Only the 364 days tenor was available in the
The auction was significantly undersubscribed as the tender size from the public amounted to
The Bank accepted all 13 bids worth the whole tender size while the weighted average yield fell by 8bps. The weighted average yield for the 364 days tenor stood at 3.62%. Yields for
Currency Market The shilling appreciated by almost a shilling against the greenback after a boost from a significant increase in the value of transactions on the
The total weekly value on the IFEM grew by more than ten times following the sharp increase on Thursday, to a total of
The weighted average exchange rate at the end of the week stood at
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