DAR ES SALAAM: Dar es Salaam Stock Exchange (DSE) turnover has increased by 9.31 per cent in the first week of 2024 to signify investors’ confidence in the market prospects this year.
The equity turnover increased from 1.163bn/- to 1.272bn/- indicating more trading activities in the first of the year.
Vertex International Securities said in its weekly review report the first week of 2024 shows optimism signifying investors’ confidence in the market prospects this year.
“We expect this trend to persevere throughout the next week as we anticipate a surge in demand for some counters, especially, the financial counters, which have demonstrated resilience.
“Additionally,” Vertex said in the report, “we forecast a satisfactory performance from industrials.”
Also, the volume of shares traded increased by 8.71 per cent from 1,918,190 to 2,085,260 stocks.
“[This] indicates higher market participation than that of last week,” Vertex report for the week ending last Friday showed.
The total market capitalisation increased by 1.14 per cent from 14.6tri/- to 14.78tri/- while domestic market capitalisation saw a marginal increase of 0.09 per cent from 11.4tri/- to 11.41tri/-.
On individual stock performance, CRDB had the highest turnover at 886.9m/-, which was 69.72 per cent of the total turnover for the week. NMB followed with a turnover of 309.9m/-, representing 24.36 per cent of the total.
The largest price increase was seen in DCB Bank, which went up by 10/- or 7.69 per cent closing at 140/- from an opening of 130/-.
Also, the highest volume of shares traded was for CRDB, with 1.9 million shares, accounting for 92.41 per cent of the total volume.