The Dar es Salaam Stock Exchange (DSE) posted an impressive performance during last week’s trading session after posting total equity turnover of 2.97bn/- being 234 per cent increase as compared 890m/- recorded during the preceding week.
The bullish performance was attributed to increased pre-arranged activities during the week from three pre- arranged deals CRDB and NMB shares.
According to DSE data, the top trading counters during the week were CRDB, NMB and TPCC dominating the overall market turnover figure by 71.6, 25.2, and 2.2 per cent respectively.
Price movement was recorded on four domestic traded equities with the DSE stock depreciating the most after recording a 9 per cent drop to close 1,820/- per share while the TCCL/Simba stock lost 7.89 per cent of its value closing the week at 1,400/- per share.
The TPCC/Twiga depreciated by 2.06 per cent closing at 3,800/ per share while the CRDB lost 1.28 per cent of its value closing the week at 385/- per share.
Total market capitalization went up by 0.10% to 15.56bn/- while Domestic market capitalization went down by 0.38 per cent closing at 10.21bn/-.
The Tanzania share index (TSI) closed at 3,863.75 points decreasing by 0.38 per cent while the All Share Index (DSEI) increased by 0.10 per cent to close at 1,867.98 points.
According to market analysts, the market sustained a bear run as signaled by the benchmark indices’ week-on-week performance drop, Market activities have sustained a period of plateaued growth Q3, 2022.
Commenting on the equity market performance, the Zan Securities Chief Executive Officer Raphael Masumbuko said, “We expect a bearish market for Q4 as the festivities period will prompt a slight sell off. Stocks will weather the prevailing uncertainties in the market. So far this year earnings expectations have trended upwards but current economic headwinds have introduced a significant amount of forecast risk to our estimates”