CRDB stocks drive Dar bourse trading

Tanzania Dar es Salaam. Turnover at the Dar es Salaam Stock Exchange (DSE) rose significantly last week, propelled by improved activities at the CRDB Bank Plc counter as investors seek to cash in on commercial banks’ recently released financial statements.

A total of Sh2.38 billion was realised in total turnover last week from sale of over 4.99 million shares.

The registered turnover is several times higher than the Sh268.49 million that was recorded in the preceding week.

CRDB Bank accounted for 67.5 percent of the turnover.

Last week, the lender announced that its cumulative net profit grew by 53 percent to Sh256.586 billion during the nine months of the current calendar year compared to a similar period last year.

Tanzania Portland Cement Company Ltd (TPCC) alias Twiga accounted for 12.9 percent while TCCIA Investment Company Limited (TICL) came third.

“We expected financials to record a strong Q3 performance owing to Q2 performance, however industrials added more boost as results were positive too,” said the capital markets manager for Vertex International Securities Ltd Mr Ahmed Nganya said.

Meanwhile, last week no counter posted price gain this week as all active counters closed in red.

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