Market activities registered a slight upward tick during the trading session last week registering a turnover of 1.13bn/- marking a week-on-week increase of 3.65 per cent from 1.09bn/- registered in the previous week.
According to data from the Dar es Salaam Stock Exchange (DSE), one pre-arranged deal was executed within the week, whereby 40,000 TBL shares traded at an average price of 6,000/- per share.
Top trading counters by turnover within the week were CRDB, TBL and NMB dominating the overall market turnover figure by 57.6 per cent, 21.1 per cent and 14.0 per cent respectively.
Price movement was recorded on three domestic counters during the week with NMB and NICO being sole gainers for the week.
The NMB stock gained the most appreciating by 2.74 per cent closing off the week at 3,000/- per share while the NICO stock gained 1.54 per cent closing off the week at 330/- per share.
The SWISS stock lost the most value within the week dropping by 6.94 per cent to close off at 1,340/- per share.
Total market capitalization went up by 0.16 per cent to 15.6bn/- and Domestic market capitalization went up by 0.36 per cent closing at 10.23bn/-
The Tanzania share index (TSI) closed at 3,871.32 points increasing by 0.36 per cent while the All Share Index (DSEI) closed at 1,872.22 points increasing by 0.16 per cent.
Market analysts predict that a tighter monetary policy will see a shift of investors towards fixed income securities as they seek to capitalize on discounted treasury bonds.
According to the Zan Securities Chief Executive Officer Raphael Masumbuko, “Allocation of liquidity to fixed income securities will crowd out equity activities in the coming weeks. However general expectations of higher bottom line for FY’22 will drive prices of respective counters upwards in the early stages of next year,”
He added,” With system liquidity being constrained by a tight monetary policy cycle we see potential opportunities in stocks with strong fundamentals and attractive entry points,”
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