Dar equities market heads south as turnover slumps 98.5 pct to 1.59bn/-

Tanzania’s equities market head south slumping by 98.5 percent to post a 1.59bn/- total turnover during the trading session last week as compared to 107.5bn/- posted the previous week.

According to available data from the Dar es Salaam Stock Exchange (DSE), total market capitalization decreased by 0.76% to 14.49bn/- while the domestic market capitalization dropped by 0.72% similar to the previous week to 11.35bn/-

The All Share Index (DSEI) closed at 11,353.53 points decreasing by 0.72% while the Tanzania Share Index (TSI) closed at 1,737.92 points decreasing by 13.3%.

Data shows that there are three gainers during that included NICO, TPCC, and TCCL while companies that recorded a fall in share price were TCCIA, DCB, NMB, and CRDB.

According to the Alpha Capital Research and Analytics Head Imani Muhingo, Tanzanian investors still dominated the market. 

“Foreigners’ participation in both sales and buy arena were 2.54% and 12.07% respectively,” he said.

On the bonds market, here was a rise in the bond turnover again by 79% to 32.38bn/- relative to last week’s turnover of 18.05bn/- with the 15, 20, and 25-year bonds dominating the bond market during the week.