Market activities on the Dar es Salaam Stock Exchange (DSE) dipped during the trading week session last week posting a turnover of 938.1m/- traded in 936,408 shares being a 62% decrease as compared to 2.47bn/- posted the previous week.
The general market was in bearish trend leading to drop in both total and domestic market capitalization.
According to available data from the DSE, total market capitalization slightly fell by 0.11% to 15.57bn/-while Domestic market capitalization fell by 0.53% closing at 10.99bn/-.
The All Share Index (DSEI) closed at 1,867.18 points decreasing by 0.11% while the Tanzania Share Index (TSI) closed at 4,154.18 points decreasing by 0.53%.
The top three trading counters within the week were, CRDB, TCC, and NMB, dominating the market with 46.19%, 44.26%, and 6.58% of the overall market turnover, respectively.
Three domestic counters registered price gains during the week with TCCL/Simba leading the gainers with a 9.8% increase to close at 1,120/- per share, with the increase is largely attributed to cautionary notice released by company during the week, disclosing FCC unconditional approval of their ongoing acquisition by Scancem.
DCB registered a price increase of 8.82% closing the week at 185/- per share while NICO registered an increase of 1.2% closing the week at 420/- per share.
The NMB stock lost 2.25% of its value closing the week off at 3,480/- per share while CRDB slightly backtracking by 1.82% closing the week at 540/- per share, DSE fell by a slight 1.1% closing the week at 1,800/- per share.
According to the Zan Securities Chief Executive Officer Raphael Masumbuko, domestically, a solid start to earnings season will be put to the test this week as the market trends cautiously optimistic taking a wait and see approach.
“CRDB, SWISS, NMB, TCC led the busy earnings week. Broadly we expect a slight upside in light of dividend expectations. CRDB’s relatively weak Q1 bottom-line will be offset by its hefty dividend,” Masumbuko said.
He added, “We further project the counter could register a slight upside. Confirmation of NMB’s dividend will propel the stock upward ultimately driving the domestic market capitalization back to the 11trn/- region”.