DSE sustains bullish performance, records 1.87bn/- equity turnover

The Dar es Salaam Stock Exchange (DSE) sustained the bullish performance during last week’s trading session due to buying interest in shares belonging to CRDB Bank.

According to data from the DSE, the bourse recorded an equity turnover of 1.87bn/- being an 84 per cent increase as compared to 1bn/- posted by the bourse last week.

CRDB dominated the trading session’s the market share by 67.0 per cent followed by TPCC/Twiga and NMB that accounted for 17.9 and 9.8 per cent respectively.

Price movement was recorded on six domestic traded equities last week with the self-listed DSE share appreciating by 1.03 per cent to end the week at 1,960/- per share.

NMB gained 0.68 per cent to close at 2,980/- per share while TPCC/Twiga share also appreciated by 0.54 per cent to close the week at 3,720/- per share.

The CRDB counter on the other hand depreciated by 5.2 per cent to close at 360/- per share while the TCCL/Simba share price also went down by 4.0 per cent to close at 1,440/- per share.

The NICO share price also dropped 1.45 per cent to close at 340/- per share.

Total market capitalization went down by 1.84 percent to 15.0bn/- while the Domestic market capitalization also went down by 0.42 per cent closing at 10.2bn/-

The Tanzania share index (TSI) closed at 3,861.28 points after decreasing by 0.42 percent while the All Share Index (DSEI) also decreased by 1.84 per cent to close at 1,800.30 points.

According to the weekly Orbit Securities report, foreign investors accounted for only 1.94 per cent of buy-side market activities worth 36m/-  and 17.6 per cent of all sell-side market activities worth 330m/-  

But according to the Zan Securities CEO Raphael Masumbuko, the market sell-off cumulating in the past weeks was largely attributed to investors pricing in ex- dividend, causing market to slightly register a down tick.

“This fall in price is not due to company fundamentals or the general outlook of the equity market. we are however going to see a slight upside in quarter III, subject to each  company results for quarter 2 2022,”said,