The Dar es Salaam Stock Exchange has posted a new record of low trading day as hiked fuel prices and drought-caused food shortages demonstrated more impact on the confidence of Tanzania's investors.

The Dar es Salaam bourse, that started trading on April 15 in 1998, witnessed only 40,000 Tanzanian shillings (30.76 U.S. dollars) worth of trading turnover on Tuesday, according to the daily market report released by the bourse.

The capital market registered its previous lowest daily trading of 500,000 shillings (384.6 dollars) on April 18 this year.

The stock exchange's average daily turnover, however, has been 50 million shillings (38,461 dollars).

The bourse has earlier registered a record low trading week in mid-May with a turnover of 4.8 million Tanzanian shillings (3,692 dollars) in its four-day trading session between May 15 and May 19.

Businesses at the capital market in Dar es Salaam have reflected the negative impact of hiked retail prices of petrol and diesel and increased food prices in the wake of drought in the past short-rain season in the country.

Local analysts attributed the under-par performance of the Dar es Salaam bourse to liquidity problems faced by most Tanzanian investors as a result of escalating prices of basic consumables.

Seven companies including one from Kenya have listed for trading their shares in the Dar es Salaam Stock Exchange.

Source: Xinhua