• About Us
  • Contact
Wednesday, June 7, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Markets

Dar stock market posts 20.4bn/- turnover in Q1, 2023

by Editor
10/04/2023
in Markets
0
Dar stock market posts 20.4bn/- turnover in Q1, 2023
Share on FacebookShare on Twitter

The Dar es Salaam Stock Exchange (DSE) posted a 10% increase in turnover to 20.4bn/- during Q1, 2023 as compared to 18.5bn/- recorded during Q4, 2022.

According to the available data from the DSE, domestic market capitalization improved significantly by 5.2% from 10.28trn/- recorded in December 2022 to 10.82trn/- at the end of March 2023, mainly on account of price appreciation of domestic listed companies due to good performance during 2022.

A few counters dominated the equity market turnover with CRDB, NMB, TPCC, TCCL, and NICO being the most traded counters, accounting for 97.3% of the total equity market turnover.

According to the Alpha Capital Head of Research and Analytics Imani Muhingo, “This indicates that these companies are in high demand among investors,”

Muhingo said that during Q1, 2023, local investors continued to increase their investments in stocks, bonds and other securities evidenced by the fact that they accounted for 83% of total investments and 68% of total divestments in the Dar es Salaam Stock Exchange.

Broker dealers at the DSE. domestic market capitalization improved significantly by 5.2% from 10.28trn/- recorded in December 2022 to 10.82trn/- at the end of March 2023, mainly on account of price appreciation of domestic listed companies due to good performance during 2022. PHOTO | COURTESY.

The advance was led by Banking and investment stocks (BI) which rose 16.9%, industrial and allied index gained 1.2% while Commercial services index moved up slightly 0.6%.

Banking and investment index ended the quarter on a high note after most of the counters from the index reported impressive 2022financial performance, lifting optimism that companies especially large banks might pay a good dividend.

The BI share index picked up 16.9% to close the quarter at 3,955.33 market points

During Q1, 2023, the NICOL share price skyrocketed by 23.1%, CRDB share price soared by 20.3%, NMB shares advanced by 15.9%, and DCB shares also gained by 13.3%.

Self-listed DSE shares also rose by 9.2% while TICL share price dipper 9.7%.

While other stocks in Commercial services didn’t experience any movement, SWISS share price soared 22.7% to close the quarter at 1,620 /- with the movement resulting to slight movement of the index by 0.6%. SWISS was also the most traded among commercial services stocks. Shares of Vodacom Plc which is the largest component in the CS index has been stagnant for at least two years now.

Historically only Swissport has been financially performing well in the index. Precision Air has been loss making for a while and currently has negative equity, while Vodacom has made losses in the last two years, hence lacked dividend payments, making the counter unattractive.

Industrial and Allied stocks

Most of the counter in the index remained unchanged, the entire index rose 1.2% on account of TCCL and TPCC price appreciation. TCCL and TPCC gained 16.4% and 9.2% respectively, while TOL Gases dropped 5.8%.

Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#LatestTBWNews#TanzaniaBusinessNews
Editor

Editor

Next Post
Bitcoin pushes past $30,000 as investors’ eye end of rate rises

Bitcoin pushes past $30,000 as investors’ eye end of rate rises

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Wed, 7 Jun.

Recommended

Twiga Cement posts strong H1, 2022 performance on booming infrastructural sector

Twiga Cement posts strong H1, 2022 performance on booming infrastructural sector

10 months ago
India’s exports to Tanzania increased three-folds in 2022

India’s exports to Tanzania increased three-folds in 2022

5 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili