Dar bourse bounces back, posts 1.06bn/- equity turnover on CRDB trade

The Dar es Salaam Stock Exchange (DSE) equity market bounced back on a positive note posting a bullish performance of 1.06bn/- being a 144 per cent as compared to 400m/- posted the previous trading session.

Stock brokers. According to DSE data, price movement was recorded on five domestic traded equities during the week with Swissport emerging as this week’s top gainer with its share appreciating by 16.6 per cent to end the week at 1,400/-per share. Photo courtesy of the internet.

According to available data from the DSE, CRDB dominated the week’s trading share accounting for 82.5per cent of the market share followed by the self-listed DSE at 5.7 per cent and TPCC/Twiga at 4.61 per cent.

Price movement was recorded on five domestic traded equities during the week with Swissport emerging as this week’s top gainer with its share appreciating by 16.6 per cent to end the week at 1,400/-per share, followed by CDRB whose share also rose up by 2.6 per cent to close at 395/- per share while the TPCC/Twiga also gained 2.15 per cent and closed at 3,800/- per share.

The NICO share however went down by 1.41 per cent to close at 350/- per share while the self-listed DSE share dropped 1.0 per cent to close at 1,980/- per share.

Total market capitalization went down by 0.79 percent to 15.6bn/- while Domestic market capitalization also went up by 1.42 percent closing at 10.3bn/-

According to market analysts, the second half of the year is off to a flying start with domestic stocks on the bourse swimming against the tide compared to equities in other exchanges.

According to the Zan Securities Chief Executive Officer (CEO) Rapaheal Masumbuko,”Our observations of the DSE Equities market point to a bull market characterized by periods of profit in the market,”