Swissport stock slumps 13.3 pct as DSE posts 2.14bn/- equity turnover

The Swissport stock depreciated by 13.3 per cent to close at 1,940/- per share during the trading session last week.

According to data from the Dar es Salaam Stock Exchange (DSE), the JATU stock also dropped by 9.0 per cent to close at 300/- per share while the DCB went down by 2.7 per cent to close at 175/-per share.

Stock brokers at DSE. NMB dominated the market share accounting for 48.8 per cent during the trading session last week followed by TCC and TPCC/Twiga that accounted for 22.5 and 8.6 per cent respectively. ***Photo /Courtesy***

The Dar bourse equity market continued its bullish trend posting a turnover of 2.14bn/- being a 14 per cent increase during last week’s trading session as compared to the previous week.

NMB dominated the market share accounting for 48.8 per cent during the trading session last week followed by TCC and TPCC/Twiga that accounted for 22.5 and 8.6 per cent respectively.

Price movement was recorded on eight domestic traded equities last week with NMB emerging as the week’s top gainer, after its stock appreciating by 4.48 per cent to end the week at 2,800/- per share.

The TPCC/Twiga stock also rose by 2.5 per cent to close at 4,000/- per share while the TOL stock also appreciated by 1.6 per cent to close at 600/- per share.

Total market capitalization went up by 0.46 percent to 15.9bn/- while Domestic market capitalization went up by 0.63 per cent closing at 10.2bn/-

The Tanzania share index (TSI) closed at 3,886.31 points after decreasing by 0.63 per cent while the All Share Index (DSEI) increased by 0.46 per cent to close at 1,910.62 points.

Market analysts however predict a positive outlook for the equity market during the remainder of the year.

According to the Zan Securities Chief Executive Officer Raphael Masumbuko, “Domestic stocks on the DSE are expected to register an uptick in prices attributed to good financials for quarter 2 that will propel more demand for respective companies”.

Masumbuko said the market would register an increase in liquidity in the coming weeks.

“The banking sector in specific is going to benefit from the vivid economic growth and stable outlook. We are going to see this emulating in their respective stock prices,” he added.