Tanzania’s equity market plummets 43.8 pct to 1.3bn/- on low investors’ appetite for stocks

The Dar es Salaam Stock Exchange (DSE) slumped 43.8 per cent to post a turnover 1.33bn/- last week as compared to a bullish turnover of 2.379bn/- registered the preceding week.

Available data from the DSE indicates that Total market capitalization fell by 0.61 per cent to 15.4bn/-while Domestic market capitalization increased by 0.06 per cent closing at 10.13bn/-

The Tanzania share index (TSI) closed at 3,832.89 points increasing by 0.06 per cent while the All Share Index (DSEI) closed at 1,848.26 points decreasing by 0.61 per cent.

DSE data also shows that two pre- arranged deals were executed within the week for NMB and TPCC counters

Stock brokers at the Dar es Salaam Stock Exchange (DSE). Equity turnover slumped 43.8 per cent to post a turnover 1.33bn/- last week as compared to a bullish turnover of 2.379bn/- registered the preceding week. PHOTO / COURTESY.

The top trading counters during the week were NMB and CRDB dominating the overall market turnover figure by 47.9 per cent and 30.3 per cent respectively.

Price movement was recorded on three domestic traded equities during the week with NMB being the only counter recording positive price movement registering 0.71 per cent appreciation to close the week off at 2,820/- per share.

Data indicated that TICL sold off the most depreciating by 10 per cent to close at 180/- per share, while the self-listed DSE lost 5.8 per cent of its value closing the week at 1,600/- per share.

Counters such as NMB, CRDB and TPCC have registered double digit price appreciation in the respective period and furthermore the overall domestic index (TSI) has returned 7.51 per cent YTD compared to 2.35 per cent in the 12 month period ending Dec 2021.