Equity market maintains bullish trend as DSE posts 6.3bn/- turnover

The Tanzanian equities market had another bullish momentum last week, as investors’ appetite remained stimulated, resulting in positive trading activities through the week.

According to data from the Dar es Salaam Stock Exchange (DSE), the bourse recorded a solid turnover of 6.3bn/ largely attributed to CRDB pre-arranged block trades.

Brokers at the Dar es Salaam Stock Exchange . Price movement was recorded on six domestic trade equities last week with CRDB emerging as the week’s top gainer with its share price rising by 16.2 per cent to end the week at 430/-. ***Photo courtesy of the internet***

CRDB emerged the week’s top trading counter accounting for 92.5 per cent of the market share, followed by the self-listed DSE and NMB that accounted for 4.2 and 1.7 per cent of the market share respectively.

Price movement was recorded on six domestic trade equities last week with CRDB emerging as the week’s top gainer with its share price rising by 16.2 per cent to end the week at 430/- per share, followed by JATU whose share price rose by 15.4 per cent closing at 410/- per share. The DCB share also gained 2.7 per cent to close at 185 per share.

On the other hand, NICO counter depreciated 7.5 per cent to close at 305/- per share while the TOL share price also went down by 1.7 per cent to close at 550/- per share.

Similarly, the TCCL/Simba share ended the week at 1,820/- per share after dropping by 1.09 per cent.

Total market capitalization last week went up by 0.42 per cent to 15.6bn/- while the domestic market capitalization also went up by 1.4 per cent closing at 10.4bn/-

The Tanzania share index (TSI) closed at 3,952.94 points after increasing by 1.4 per cent while the All Share Index (DSEI) also increased by 0.42 percent.

According to stack analysts, the market is experiencing a bullish run on the back of dividend calls issued by a number of listed equities.

CRDB has already gained over 15 per cent since dividend announcement with analysts predicting furthermore that quarter 1 earnings results will push equity prices higher.

According to the Zan Securities Chief Executive Officer (CEO) Raphael Masumbuko, “the outlook for the year remains strong with increased activities in the exchange fueled by growth of stocks as many investors are now seeking capital gains and turning a blind eye to treasury bonds whereby yields have dropped and coupons revised”.