Dar stock market ends week in green, posts 1.19bn/- turnover

Tanzania’s stock market ended last week on a positive note as both traded value and domestic market capitalization demonstrated an upward trend.

According to available data from the Dar es Salaam Stock Exchange (DSE), the cumulative value of trades surged to 1.194bn/- last week from 596.3m/- posted the previous week marking a significant increase of 100.29%

DSE figures show that total market capitalization reached 14.91bn/- while domestic market capitalization rose by 0.28%, concluding the week at 10.92bn/-.

The All Share Index (DSEI) closed at 1,788.18 points decreasing by 0.67% while Tanzania Share Index (TSI) closed at 4,130.97 points increasing by 0.41%  

Prominent stocks that garnered notable trading value during the week were CRDB, VODA, and NMB, contributing to 67.55%, 17.17%, and 8.8% of the overall market turnover, respectively.

Among domestic stocks, two stocks observed positive price movement. TCCL/Tanga led the way with an impressive surge of 3.26%, concluding the week at 1,900 per share attributed to the impending acquisition by scancem.

NMB also displayed a positive trajectory with a 2.22% rise, closing the week at TZS 3,680 per share.

However, there were also instances of decline among domestic counters. CRDB experienced a drop for the second consecutive week, reaching 460 per share, equating to a 1.08% decrease.

NICO faced a similar fate, declining by 1.03% to reach 480/- per share.