Dar bourse maintains bullish trend, posts 5.92bn/- equity turnover

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

***Stock brokers at the Dar es Salaam Stock Exchange (DSE). Photo courtesy of the internet.***

According to data from the Dar es Salaam Stock Exchange (DSE), the local bourse posted an equity turnover of 5.92bn/- being a by 60.7 per cent increase compared to the preceding week.

Top trading counters last week were TBL which dominated the market share by 75.9 percent, followed by CRDB at 8.2 percent and NMB at 6.4 per cent.

Price movement was recorded on six domestic traded equities with NICO emerging the top gainer as its share price appreciated by 7.8 per cent to end the week at 345/- per share, followed by Swissport whose share price rose by 5.05 per cent to close at 1,040/- per share.

The self-listed DSE share price also appreciated by 2.1 per cent to ended the week at 1,940/- per share.

Meanwhile, the TPCC/Twiga counter on the other hand depreciated 19.1 per cent to close at 3,338/- per share while the TCCL/Simba went down by 10 per cent to close at 1,620/- per share.

The Jatu share price also dropped 5.2 per cent to close at 360/- per share.

Total market capitalization went down by 0.40 per cent to 15.7bn/- while the Domestic market capitalization also went down by 0.59 per cent closing at 10.4bn/- The key benchmark indices were as follows; –

The Tanzania share index (TSI) closed at 3,942.29 points after decreasing by 0.59

Percent while the All Share Index (DSEI) also decreased by 0.40 per cent to close at 1,890.84 points.

According to the Zan Securities Chief Executive Officer Raphael Masumbuko, there will be a slight drop in prices during this week’s trading.

“A number of counters will begin trading ex div, thus we are going to see a slight drop in prices this week, albeit company fundamentals remain strong as we enter last month of quarter 2. We expect the sharp growth registered through quarter 2 to slightly plateau as we enter quarter 3, this is largely attributed to inflation risk limiting upside potential,” Masumbuko said.