DSE equity turnover slumps by 80 pct to 947.2m/-

The Dar es Salaam Stock Exchange (DSE) equity market last week slumped to 947.2m/-from 5.92bn/- recorded the previous week.

According to DSE data, TBL dominated the week’s trading market share by 46.41 per cent followed by NMB that accounted for 17.2 per cent, TPCC at 8.7 per cent and CRDB that accounted for 5.2 per cent of the market share.

Price movement was recorded on eight domestic traded equities last week with TPCC/Twiga emerging week’s top gainer with its share price increasing by 9.47 per cent to end the week at 3,700/- per share, followed by Swissport whose share price rose by 5.77 per cent to close at 1,100/- per share.

The DCB share price also rose by 2.63 per cent to close at 195/- per share while the self-listed DSE share price also increased by 2.06 per cent to ended the week at 1,980/- per share.

The CRDB share price on the other hand depreciated 4.76 per cent to close at 400/- per share while the TCCL/Simba share price also declined by 3.70 per cent to close at 1,560/- per share.

The Jatu share price also dropped by 2.78 per cent to close at 350/- per share while the NMB share price also dropped by 1.99 per cent to close at 2,960/- per share.

Total market capitalization went down by 1.13 per cent to 15.5bn/- while the Domestic market capitalization also went down by 1.10 percent closing at T10.3bn/-.

The Tanzania share index (TSI) closed at 3,898.79 points after decreasing by 1.10 per cent while the All Share Index (DSEI) also decreased by 1.13 per cent to close at 1,869.53 points.

According to the Zan Securities  Chief Executive Officer Raphael Masumbuko,”stocks will slightly register a downside albeit this fall in price not due to company fundamentals or the general outlook of the equity market, rather a reflection of ex-dividend period that the market is currently in,”

Masumbuko noted that already counters such as CRDB, TPCC and NMB have registered a slight fall in price of -5%, -5% and -2% respectively.

“However, we are going to see a slight upside post ex-div, subject of course to each companies results for quarter 2, 2022,” he added.