DSE equity market maintains bullish run, posts 1.88bn/- turnover

Tanzania’s equities market maintained its bullish run posting an equity turnover of 1.88bn/- during the trading session last week from 1.85bn/- posted during the previous week.

According to data from the Dar es Salaam Stock Exchange (DSE), the Tanzania Share Index (TSI) closed at 3,861.89 points after decreasing by 0.80 per cent while All Share Index (DSEI) increased by 1.60 per cent to close at 1,901.82 points

TPCC/Twiga dominated the market share with 45.5 per cent followed by CRDB at 29.26 percent, Swissport at 6.3 per cent and the self-listed DSE at 4.9 per cent.

Price movement was however recorded on six domestic traded equities with Swissport emerging as the week’s top gainer after its stock appreciated by 33.3 per cent to end the week at 2,240/- per share, followed by TCCL/SImba whose stock rose by 7.58 per cent to close at 1,420/- per share.

The TOL stock during the week also appreciated by 7.2 per cent to close at 590/- per share while the  NICO  stock also gained by 1.4 per cent closing at 355/- per share.

The NMB share however went down by 7.5 per cent to close at 2,680/- per share as the DCB dropped by 5.2 per cent to close at 180/- per share.

Analysts however predict a bright outlook for the equity market during the second half of the year banking on the country’s vivid economic growth.

According to the Zan Securities Chief Executive Officer Raphael Masumbuko, “The second half of the calendar year is off to a flying start, domestic stocks on the DSE are expected to register an uptick in prices,”

He added, “The good financials for quarter 2 will propel more demand for respective companies. The market is going to register an increase in liquidity in the coming weeks. We are going to see this emulating in their respective stock prices,” he added.