DSE activities fall, indices rise

THE Dar es Salaam Stock Exchange (DSE) market activities registered a slight downward tick last week after posting a turnover of 2.64bn/- marking a week-on-week decrease of 22.26 per cent from 3.4bn/- recorded in the previous week.

According to Zan Securities Limited Wrap-Up report, the top trading counters for the week were CRDB, TPCC and NMB dominating the overall market turnover figure by 52.61 per cent, 33.19 per cent and 13.6 per cent, respectively.

During the week under review, the price movement was recorded on four domestic counters, NMB being the sole gainer for the week registering a week-on-week price appreciation of 5.3 per cent to close at 3,180/- per share.

Alternatively, on the loser’s side, TICL endured a sell-off dropping by 3.23 per cent to close off at 150/- per share. TPCC lost 2.7 per cent of its value closing off the week at 3,600/- per share, and NICO slightly dropped to 320/- per share equivalent to a 1.54 per cent loss in value.

Total market capitalisation went up by 1.15 per cent to 15.86tri/-and Domestic market capitalisation went up by 0.6 per cent closing at 10.34tri/-.

Vertex International Securities Limited Weekly Market Review said the equities market recorded a subpar performance as both turnover and volume decreased this week.

“We think it is due to the local investors’ inactivity as they wait for quarter four results,” stated the report.

Orbit Securities Limited Synopsis said it was a strong start to the year at the Dar es Salaam Stock Exchange (DSE) with both benchmark indices ending the week on a high note.

The All-Share Index (DSEI) increased by 21.59 points and the Tanzania Share Index rose by 23.20 points, largely due to the strong performance of cross-listed stocks.

Some notable performers included KCB, which closed the week with 2.8 per cent higher, East African Breweries, which rose 2.2 per cent, National Media Group (NMG), which gained 1.7 per cent and Jubilee Holdings which increased by 1.08 per cent.

The standout performer of the week was NMB, which ended the week  by 5.3 per cent higher than the previous week’s close.

The bank has made a strong start to the year, building on its impressive run in 2022 which earned it the title of top-performing stock of the year with a 51 per cent gain.

On the other hand, Twiga Cement saw a 2.7 per cent decline in its share price.

Despite this, the manufacturing stock has had a strong performance over the past year, finishing 9 per cent higher and offering a dividend yield of 10.5 per cent to its investors, the highest on the bourse.

Additionally, the two closed-end investment companies listed on the bourse finished the week in negative territory.

NICOL lost 1.5 per cent and TICL shed 3.2 per cent. Despite TICL’s plummeting share price, savvy investors are still clamouring for the stock, with demand far outpacing supply.

Closed-end funds are investment companies that raise a fixed amount of capital through an initial public offering (IPO). Unlike open-ended funds, which issue new shares or redeem existing shares on demand, closed-end funds have a fixed number of shares that are traded on a stock exchange. They typically invest in a diversified portfolio of assets such as stocks, bonds and real estate.

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