Activities on the Dar es Salaam Stock Exchange (DSE), continued their bearish outcome for the second consecutive trading session last week posting a total turnover of 623.32m/- being a 65.65 per cent slump as compared to 1.80bn/- posted the previous week.
According to DSE figures, Total market capitalization went down by 0.92 per cent to 15.28bn/- while Domestic market capitalization went down by 0.38 per cent closing at 10.15bn/-
The top trading counters during the week were CRDB, NMB and TPCC dominating the overall market turnover figure by 64.24 per cent, 25.16 per cent, and 7.37 per cent respectively.
Price movement was recorded on five domestic traded equities during the week with NICO being the lone positive price mover, gaining 4.55 per cent of its value to close the week at 345/- per share.
Four domestic counters sold off during the week with TCCL/Simba sold off the most depreciating by 7.14 per cent to close at 1,300/- per share while DCB lost 5.88 per cent of its value closing the week at 160/- per share.
The TPCC stock depreciated by 2.63 per cent closing at 3,700/- per share while the NMB stock lost 1.43 per cent of its value closing the week at2,760/- per share.
Market analysts say the new month ushered in a slow market and expect overall activities in the domestic bourse to sustain a bear run as signaled by the benchmark indices’ week-on-week performance drop.
According to the Zan Securities Chief Executive Officer Raphael Masumbuko, “Market activities have sustained a period of plateaued growth as we closed of Q3.
He added, “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,” he added.