The total equity turnover generated in the market this week decreased by 82.33% to TZS2,060.37 Mln from the prior week’s total of TZS11,662.75 Mln after a total of 530,743 shares traded on the exchange this week.
The total equity turnover generated in the market this week increased by over thirty folds to TZS 11,662.75 Mln from the prior week’s total of TZS 111.35 Mln after a total of 3,989,409 shares traded on the exchange this week.
The total equity turnover for the month slightly declined by 1.8% to record a turnover of TZS 6.6Bln ($2.86Mln) from TZS 6.723Bln, recorded in previous month. The number of shares traded also halved that of the previous month, whereby about 6.6 million shares traded during the current month, from 13.7million shares traded on the previous month. The significant decline in the number of shares traded for the month is mainly due to the nature of the top mover counter, which in current month is TBL more expensive and requires less shares to generate large turnover as opposed to CRDB which was previous month’s top mover.
The month of January graced the market with the total Equity turnover of TZS 6.73Bln ($2.9Mln), after trading a total of 13.7million shares. The turnover is 98% lower than TZS 425.94Bln ($184.5Mln) turnover recorded in preceding month of December 2020, and also 85.2% lower than TZS 45.36Bln generated similar period previous year. Lower activity levels are still experienced since second quarter of previous year following the eruption of COVID-19 which is still very much at large and is still keeping investors wary and cautious of significant investments overseas especially on the equities markets. This has in turn negatively impacted several emerging markets, especially those heavily influenced by foreign investors activities the likes of DSE.
In 2020 Tanzania recentlycrossed the $1,036 per capita threshold attaining the country a Lower Middle Income status as of 1st July 2020.The country’s GDP has been consistently growing at 7% for the past five years led by construction, mining and social services sectors. The Ministry of Finance of Tanzania estimates an economic growth of 5.5% in 2020from initial projections of 6.9%, due to anticipated effects of COVID-19.
The total equity turnover generated in the market fell by -83.80% thus reaching a total of TZS746.39 Mln from the prior week’s total of TZS 4.606Bln while the Total Number of shares traded throughout the week also fell by -39.68%.
