Dar equities market plunges for the third consecutive week, stocks register gains

Market activities at the Dar es Salaam Stock Exchange (DSE) slumped for the third consecutive week recording a total turnover of 550.72m/- during the trading session last week indicating a decrease of 30.2% as compared 790m/- recorded the previous week.

This decline can be attributed to the absence of pre-arranged transactions relative to the preceding week.

According to data from the DSE, total market capitalization increased by 0.55%, reaching a total of 15.09bn/- while domestic market capitalization gained 0.21%, reaching 10.84bn/- by the end of the week.

The All Share Index (DSEI) closed at 1,809.88 points increasing by 0.55% while the Tanzania Share Index (TSI) closed at 4100.49 points increasing by 0.21%

CRDB, NICO, and NMB dominated the accounting for 51.90%, 13.52%, and 12.58% of the total market turnover, respectively.

Several counters witnessed price gains, with DCB leading the way with a remarkable surge of 7.14%, closing at 150/- per share while SWISS recorded a 6.67% increase, concluding the week at 1,600/- per share.

NICO experienced a 5.56% increase, ending the week at 475/- per share while TPCC saw a 3% increase, closing the week at 4,120/- per share.

TOL lost 4.62% of its value, ending the week at 620/- per share while TCCL/SIMBA experienced a loss of 2.22%, closing the week at 1,760/- per share.

Self-listed DSE closed the week at 1,820/-, marking a 1.09% drop.

The Zan Securities Chief Executive Officer Raphael Masumbuko said, “Looking ahead, we anticipate heightened market activities in the upcoming weeks as companies prepare to release their second-quarter financial reports. This is expected to generate increased interest and trading in the market”