This archive report was first published on 15 July 2019.
Published on July 15, 2019, the Dar es Salaam Stock Exchange (DSE) recorded a significant decline in liquidity during the second quarter of 2019.
The bourse's quarterly note revealed that equity trading turnover decreased from Tsh37.31 billion ($16,188,700) in the first quarter to Tsh25.88 billion ($11.229 million) in the second quarter.
Only three counters, Tanzania Breweries, CRDB Bank, and Vodacom, accounted for the majority of the total turnover, with Tanzania Breweries contributing 79% of the total turnover.
According to DSE chief executive officer Moremi Marwa, 'all other counters together contributed just 5% — some of them showed zero deals most of the time.'
The bourse also experienced a one% fall in cumulative market size during the second quarter, mainly due to share price drops in six counters.
Mr. Marwa attributed the decline to 'the selling off pressure from investors in most counters.'
The six domestic companies that dragged down market capitalisation during the quarter were CRDB Bank, Yetu Microfinance, DSE Bourse, TOL Gases Ltd, Swissport, and Twiga Cement.
