DSE benchmark indices ends trade on a positive note, turnover falls to 572.1m/-

Tanzania’s equity market last week ended on a positive note with total market capitalization rising by 1.53% to 15.98bn/- while the domestic market capitalization went up by 2.08% closing at 10.53bn/- according to data from the Dar es Salaam Stock Exchange (DSE).

Tanzania share index (TSI) closed at 3,985.1 points increasing by 0.63% while the All Share Index (DSEI) closed at 1,918.09 points increasing by 2.08%.

Despite a slight dip in trading volumes, the bourse however registered a turnover of 572.18m/- being a 17.4% decrease of from the previous week with a number of stocks experiencing price appreciation leading to the overall increase in market capitalization.

The top three trading counters, NMB, CRDB, and DCB, dominated the market with 74.89%, 17.82%, and 1.88% of the overall market turnover, respectively. Investors can take comfort in the continued

NMB led the gainers list with its stock appreciating by 11.61% to close at 3,460/- per share while the CRDB increased by 3.85% closing the week at 405/- per share.

The DSE stock on the other hand gained by 3.53% to close at 1760/- per share while NICO appreciated by 1.67% to close at 305/- per share.

The TCCL/SIMBA stock was on the losing side after suffering a 9.09% decrease in value, closing the week at 1000/- per share.

According to market analysts, the optimistic sentiment in the stock market is a reflection of the overall positive economic outlook and growth potential of the country.

According to the Zan Securities Chief Executive Officer Raphael Masumbuko, “Investors are drawn to the favorable investment climate and the prospects for returns in the stock market. Additionally, the continued support from the government and regulatory bodies to enhance the stock market infrastructure has also played a key role in attracting investors”.

Masumbuko said that despite the slight decrease in trading volumes, the market continues to exhibit resilience and stability.

“The recent price appreciation of stocks is a testament to the confidence of investors in the market, and it is expected to continue in the coming weeks. With earnings season in full swing, investors are closely watching the financial results of companies, which could further boost the market’s upward trend,” he said.

He noted that the stock market continues to be a promising investment destination for investors seeking long-term growth. Despite some short-term volatility, the overall trend remains positive, and investors can expect continued growth in the coming weeks.

“The market’s stability, investor confidence, and positive economic outlook provide a solid foundation for future growth, making it an attractive investment opportunity for those seeking todiversify their portfolios,” he added.