THE two major indices faced down during the week while the equity turnover significantly rose as pension funds scale up participation in financial markets.
The Tanzania Share Index (TSI) dropped by a mere 0.04 point to close the week at 3,518.04 points, resulting from a decline of
The domestic market capitalisation fell by a slight 0.001 per cent and closed the week at
The index's retreat was mainly a result of declining giants from the cross listed board, on top of
Equity turnover shot up by more than ten thousand per cent on a weekly basis thanks to massive movement on the TCC, NMB and TBL counters. Equity turnover grew from
The volume of shares traded also went up almost 200 times from 207,990 shares during the previous week to 3.99mln shares during the week under review. The number of deals slightly rose from 120 deals to 155 deals. More than 99 per cent of the turnover was realised on three counters, in prearranged block transactions, at prices half the official market closing prices of the respective counters.
TCC was the top mover after accounting for 57.3 per cent of the total equity turnover, followed by NMB which accounted for 29.5 per cent and TBL which accounted for 12.7 per cent of the total turnover. More interestingly, is the increased capacity of the domestic players to absorb the sell-off clout.
More than 87 per cent of the equity sales during the week were bought by domestic players as locals accounted for 87.28 per cent of the total investments. Foreign investors remained net sellers with a net outflow of
The total value traded during the week was
For the first time in a while all
The total tender size from the public amounted to
Yields on the tenors were 3 per cent, 3.3 per cent, 3.72 per cent and 5.98 per cent for the 35 days, 91 days, 182 days and 364 days respectively. Currency Market Only one session was reported to have been active on the
The shilling remained resilient during the session, with a mere depreciation of 3 pips. The weighted average exchange rate at the end of the session was
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