Banks lead DSE as trading turns selective

DAR ES SALAAM: EQUITIES on the Dar es Salaam Stock Exchange traded in a narrow range Friday as banking stocks anchored liquidity, while selective gains in smaller counters pointed to stock-specific interest among investors.

Total turnover reached 2.11bn/- from 1.32 million shares traded in 3,148 deals, with government bonds and exchange-traded funds also drawing activity.

Bonds worth 11.64bn/- changed hands in 15 deals, while ETFs accounted for 56.23m/- of trades, highlighting continued interest in fixed-income and diversified instruments alongside equities.

Zan Securities Advisory and Research Manager Isaac Lubeja said the bourse entered this year with a robust valuation base, building on the significant momentum of the previous year.

“While the first full week of [this] January saw a 20.46bn/- turnover, a 27.37 per cent decrease from the short holiday week prior the broader market indicators suggest a highly resilient and growing landscape,” Mr Lubeja said yesterday.

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CRDB Bank Plc remained the most active stock, with roughly 873,524 shares traded and turnover of 1.43bn/-. Despite its dominant volume, the counter edged slightly lower, weighing on banking sector sentiment. Among other active names, Afriprise Plc saw 196,403 shares traded for 94.6m/-, closing flat.

DCB Commercial Bank rose 2.08 per cent, emerging as one of the session’s notable gainers on turnover of 19.99m/-. Stronger advances were recorded in select mid-tier counters. MBP Plc surged 14.81 per cent to 1,240/-, while MKCB climbed 11.39 per cent to 4,890/-.

NICO Holdings gained 7 per cent to 2,750/-, supported by active trading and MCB advanced 3.13 per cent to 495/-.

On the downside, NMB Bank edged 0.11 per cent lower to 9,050/-, joining CRDB Bank, which slipped 0.61 per cent despite dominating turnover. DSE Plc, the exchange’s own counter, fell 0.8 per cent, while TCCL eased 0.37 per cent, underscoring uneven price action across heavyweight names.

The All-Share Index (DSEI) held near 2,907 points, signalling resilient underlying sentiment despite subdued and selective trading. Investor flows remained concentrated in banking stocks that dominate volume and turnover, while smaller names attracted tactical interest, particularly where earnings visibility or dividend prospects appeared clearer. Domestic investors continued to account for the bulk of market activity.

“The market is currently characterised by a strong upward trend in valuation across all major categories,” Mr Lubeja said.

Domestic market capitalisation has reached 16.78tri/-, representing a 7.73 per cent year-to-date (YTD) increase. Total Mmarket cap now stands at 25.25tri/- up by 5.27 per cent YTD.