Dar stock market skyrockets by 196% to 11.07bn/- on pre-arranged block trades

The aggregate market turnover at the Dar es Salaam Stock Exchange (DSE) surged by 195.8% to 11.07bn/- during the trading session last week as compared 3.74.bn/- posted the previous week.

This notable uptick was predominantly attributable to heightened engagement in pre-arranged block trades, amounting to 8.72bn/- and constituted a substantial 78.79% share of the overall market turnover.

According to the Aplha Capital Head of Research and Analytics Imani Muhingo, “the surge in trading activities, particularly in pre-arranged block trades, signifies a pronounced shift in market dynamics, reflecting increased investor participation and potentially indicating evolving market sentiments or strategic moves within the financial landscape.

Muhingo said market participation was dominated by local investors on both the sale and buy-side with foreigners’ participation in sales and buying being 7.6% and 0.16% respectively. 

Net foreign outflow during the week’s trading however hit 823.3/- according to available DSE data.

Total market capitalization raised slightly by 0.61% to 14.58bn/- while domestic market capitalization dropped by 0.08% to 11.37bn/-

Gainers & Losers:

During the weekly market, notable share price advancements were observed in DSE, CRDB, and TPCC, exhibiting gains of 9.64%, 1.1%, and 0.47%, respectively, reaching values of 1,820/-, 460/-, and 4,240/-

The NMB share price however experienced a decline of 1.32%, closing off the week at 4,500/-

Top 5 Movers:

CRDB, NMB, TICL, TBL, TCC and TPCC emerged as the top 5 movers, with CRDB leading and contributing to 44.9% of the total equity turnover in the week.

Fixed Income Market:

The fixed-income market witnessed bond trading with a face value totaling 47.38bn/- with the total transactional value for these bonds amounting to 53.3 billion, spanning 41 deals.

The traded bonds included government securities with maturities of 10, 15, 20, and 25 years, underscoring diverse investment durations.

Notably, NMB (Jasiri and Jamii bond) and CRDB – Kijani were the corporate bonds traded in the market