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

by Editor
11/07/2023
in Markets
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Dar equities market plunges for the third consecutive week, stocks register gains
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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.

Brokers at the Dar es Salaam Stock Exchange (DSE). 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. PHOTO | COURTESY.

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”

Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#LatestTBWNews#TanzaniaBusinessNews
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