Dar bourse posts 1.3bn/- equity turnover, total market capitalization up

The Dar es Salaam Stock Exchange (DSE) equity market continued to rally after posting a bearish performance with a turnover of 1.3bn/- during the trading session last week.

CRDB dominated the market share by 57.59 per cent followed by NMB at 18.62 per cent while the self-listed DSE accounted for 17.14 per cent of the trade.

Price movement was recorded on seven domestic traded equities this week with CRDB emerging the week’s top gainer with its share price appreciating by 11.11 per cent to end the week at 400/- per share.

SWISS gained by 5.36 per cent to close at 1,180/- per share while the NMB share price also rose by 4.70 per cent to close at 3,120/- per share and DSE gained by 2.04 per cent to end the week at 2,000/- per share.

The TCCL/Simba went down by 8.33 per cent to close at 1,320/- per share, while the JATU share price also went down by 4.35 percent to close at 330/- per share.

The NICO share price also dropped 2.94 per cent to close at 330/- per share.

Total market capitalization went up by 4.91 percent to 15.7bn/- and Domestic market capitalization also went up by 1.65 per cent closing at 10.3bn/-.

The Tanzania share index (TSI) closed at 3,925.18 points after increasing by 1.65 percent while the All Share Index (DSEI) also increased by 4.91 per cent to close at 1,888.67 points.

According to analysts, the equity market will sustain its bullish run, further registering positive price movements during the second half of 2022.

According to Zan Securities Chief Executive Officer Raphael Masumbuko, treasury bonds may continue to face a sell-off pressure for the majority ofQ3.

“Investor asset-allocation is currently favoring stocks. Bonds are going to face headwinds of slightly high inflation, and a robust Tanzanian economic growth, and over supply of bonds as we have seen by the extension of the maturity profile as disclosed through the issuance calendar,” he said.