THE
The equity market performance registered one of its lowest turnover of the month as the downward momentum trend for also volume and prices observed.
"Equities market continued with the downward spiral [last] week as turnover, and volume tumbled," Vertex report showed.
Last week top gainers were
CRDB counter contributed 68.25 per cent of total market turnover followed by
"However," Vertex said, "We expect
"We also noticed the continuous share price appreciation for
However, other stock brokerage firms urged that low activities were due to the lack of prearranged block transactions which has suppressed equity turnovers to a second consecutive weekly drop.
"Flexibility of transaction prices on the prearranged market is not restricted by the allowable price spreads from the closing price, for that reason, and the fact that prices of large counters on the exchange have been stagnant for years, the prearranged market has gained a lot of traction over the last two years," Orbit said.
According to Orbit, with a lack of prearranged transactions, the collective total turnover for the last two weeks is less than 10 per cent of the turnover for the final week of last month.
During the week ending last Friday, foreign investors' interest waned along with the prearranged transactions, leaving market dominance to domestic investors who accounted for 88.56per cent of the total investments made during the week.
Domestic investors also accounted for 95.52 per cent of the total divestments for the week. Foreign investors, remained net buyers with minimal participation, while the net inflow stood at
Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source