Market activities at the Dar es Salaam Stock Exchange (DSE) registered an upward tick last week registering a turnover of 1.83bn/-marking a week-on-week increase of 10.1% from 1.66bn/-registered the previous week.
According to data from the DSE, total market capitalization however went down by 0.91% to 15.64bn/- while Domestic market capitalization also went down by 0.49% closing at 10.25bn/-
The Tanzania share index (TSI) closed at 3,879.4 points decreasing by 0.49% while the All Share Index (DSEI) closed at 1,877.05 points decreasing by 0.91%.
Top trading counters for the week were CRDB, NMB and TCCL dominating the overall market turnover figure by 89.84%, 3.69% and 2.09% respectively.
During the trading session last week, there was no price appreciation on a weekly basis with most stocks losing their value, TCCL losing the most by 9.09% to close at 1000/- per share.
NICO dropped by 7.69% and reached 300/- per share while TICL and TOL fell by 6.67% and 5.8% ending the week at 140/- and 650/- per share respectively.
A slight sell off in both domestic and cross listed counters has depleted market capitalization last week.
According to the Zan Securities Chief Executive Officer Raphael Masumbuko, “We will see an upward correction in the coming weeks pertinent to optimistic sentiments of full year 2022 results for a number of counters,”
He added, “As the IMF projects a rather gloomy 2023, our domestic market sentiment remains relatively neutral, and we understand equity markets are in a positive trajectory. Like in 2022, in our view, the domestic recovery of the economy and GDP growth will subsequently make companies relatively more profitable, equity prices are likely to increase in Q2 (2023) as companies begin to release their audited financials for the year ending 2022,”
English
Arabic
Chinese (Simplified)
French
German
Italian
Russian
Spanish
Swahili