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Dar equity market turnover surges by 91.5 pct to 4.7bn/- on pre-arranged trades

by Editor
19/06/2023
in Markets
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Dar equity market turnover surges by 91.5 pct to 4.7bn/- on pre-arranged trades
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The Dar es Salaam Stock Exchange (DSE) exhibited a bullish performance during the five-day trading session 91.56% increase in turnover to 4.72bn/- as compared to 2.46bn/- posted the previous week.

This notable rise can be ascribed to pre-arranged transactions carried out within the week.

The overall sentiment of the market was characterized by a blend of positive and negative factors, resulting in a contraction of the total market capitalization and a slight expansion in the domestic market capitalization.

According to available data from the DSE, total market capitalization fell by 0.3%, to 15.29bn/- while the domestic market capitalization experienced a growth of 0.3%, reaching 10.86bn/- at the end of the week.

Brokers at the Dar es Salaam Stock Exchange (DSE). The (DSE) exhibited a bullish performance during the five-day trading session 91.56% increase in turnover to 4.72bn/- as compared to 2.46bn/- posted the previous week. PHOTO | COURTESY

The All Share Index (DSEI) closed at 1,834.31 points decreasing by 0.30% while the Tanzania Share Index (TSI) closed at 4,107.97 points increasing by 0.30%.

Prominent stocks in terms of trading volume for the week were TBL, CRDB, and TCCL/Tanga Cement, commanding 82.9%, 13.94%, and 1.11% of the total market turnover, respectively.

Pre-arranged trades involving 350,000 and 280,000 TBL shares were executed at an average price of 6,000/- and 6,500/- per share respectively, making a significant contribution to the overall turnover for the week.

TCCL led the gainers by registering a 6.98% upsurge in price closing at 1,840/- per share, CRDB bounces back after weeks of losses registering 2.25% uptick closing off the week at 455/- per share

DCB was the sole looser for the week losing 9.09% of its value to end the week at 150/- per share.

The Zan Securities Chief Executive Officer Raphael Masumbuko said, “We anticipated an imminent slight rebound in equities as the market stabilizes following dividend payments, which will facilitate inflows into certain stocks,”

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Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#LatestTBWNews#TanzaniaBusinessNews
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