DSE market capitalization hits 15.8bn/- as equity turnover slumps 42 pct

The Dar es Salaam Stock Exchange (DSE) equity market slumped by 42 per cent posting an equity turnover of 3.69bn/- during the trading session last week as compared to 6.3bn/- posted a week prior.

According to data from the DSE, total market capitalization however went up by 1.27 per cent to 15.8bn/- while Domestic market capitalization also went up by 0.32 percent closing at 10.4bn/-.

The Tanzania share index (TSI) closed at 3,965.49 points after increasing by 0.32 per cent while the All Share Index (DSEI) also increased by 1.27 per cent to close at 1,898.37 points.

NMB emerged as this week’s top trading counter accounting for 85.7 per cent of the market share, attributed by some pre-arranged block trade followed by CRDB and SWISS that accounted for 7.7 and 4.5 per cent of the market share respectively.

Price movement was recorded on six domestic traded equities last week with NICO emerging as the week’s top gainer as its share price rose by 4.9 per cent to end the week at 320/- per share, followed by DCB whose share price  by 2.7 per cent to close at 190/- per share.

The JATU counter on the other hand, depreciated 7.3 per cent to close at 380/- per share while the CRDB share price also dipped by 2.3 per cent to close at 420/- per share.

Similarly, TCCL/Simba ended the week at 1,800/- per share after dropping by 1.1 per cent while the SWISS share price also depreciated by one per cent to end the week at 990/- per share

Stock analysts however forecast slight spillover effects from inflation and surging prices towards the end of the second quarter.

According to the Zan Securities CEO Raphael Masumbuko, “Generally, we are witnessing a boom cycle in domestic equities, increased earnings and dividends are compounding an upward surge in share prices. However, we remain cautiously optimistic given the current volatile global macro- environment. Our market will experience slight spillover effects from inflation and surging prices as we head towards the end of Q2, 2020,” he said.