The Dar es Salaam Stock Exchange (DSE) bounced back last week to post 1.01bn/-turnover being a 7 per cent increase in equity turnover from 947.2bn/-posted by the bourse the previous week.
According to data from DSE, Self-listed DSE emerged the top trading counter during last week’s trading session accounting for 53.46 per cent followed by TPCC that accounted for 24.7 per cent, CRDB with 9.89 per cent and Swissport that amounted for 4.5 per cent of the trade respectively.
Price movement was recorded on six domestic traded equities during last week’s trading session with the Swissport counter emerging that biggest gainer after its share price appreciate by 1.82 per cent to close off the week at 1,120/-per share.
The CRDB counter on the other hand depreciated by 5.0 per cent t to close at 380/- per share while the TCCL/Simba went down by 3.85 per cent to close at 1,500/- per share.
The DCB share prices also dropped by 2.56 per cent to close at 190 per share, while the self-listed DSE share lost 2.02 per cent of its value to close 1,940/- per share.
The Jatu share also dropped by 1.43 per cent to close at 345/- per share.
According to DSE data, total market capitalization went down by 1.90 per cent to 15.287bn/- while Domestic market capitalization also went down by 0.55 per cent closing at 10.25bn/-
The Tanzania Share Index (TSI) closed at 3,877.42 points after decreasing by 0.55 percent while the All Share Index (DSEI) also decreased by 1.90 per cent to close at 1,833.97 poi
According to stock analysts, the market sell-off cumulating in the past weeks is largely attributed to investors pricing in ex-dividend, causing market to slightly register adown tick in price is not due to company fundamentals or the general outlook of the equity market.
According to the Zan Securities Chief Executive Officer Raphael Masumbuko,”we are going to see a slight upsurge in quarter III, subject to each company’s results for quarter II, 2022”