DSE exhibits favourable performance at all fronts

Dar es Salaam Stock Exchange (DSE) has demonstrated favourable performance, as both the value of trades and the domestic market capitalisation displayed an upward trajectory.

The total value of trades surged to 1.414bn/-, marking a significant increase of 18.45 per cent at the end of the week compared to the previous week.

Zan Securities Chief Executive Officer Raphael Masumbuko said on Saturday stocks like Vodacom, CRDB Bank, and TBL were involved in block trades thus contributing to the overall rise in turnover during the week.

“The notable counters that attracted substantial trading activity were CRDB, TBL, and Voda,” Mr Masumbuko said in the firm’s weekly market wrap ups report.

The three stocks represented 48.82 per cent, 17.68 per cent, and 15.27 per cent of the total market turnover, respectively.

The Zan CEO said: “Among domestic stocks, two exhibited positive price movements”.

DSE led the way with an impressive surge of 8.14 per cent, concluding the last week at 1,860/- per share. CRDB also followed a positive trajectory with a 2.17 per cent increase, recovering from the previous week’s losses and closing at 470/- per share.

On the downside, the report showed, two domestic counters experienced price declines within the last week.

Tanga Cement, Simba, faced a significant drop of 9.47 per cent to 1,720/- per share. Similarly, TOL Gases experienced a decline of 1.59 per cent, settling at 620/- per share.

Additionally, there was a marginal decrease of 1.19 per cent in the total market capitalisation to

14.73tri/-. The decrease was largely attributed to the fall in prices of cross-listed stocks like JHL, EABL, KCB Bank, and NMG.

Conversely, the domestic market capitalisation experienced growth for the fourth consecutive week, adding 0.16 per cent and ending the last week at 10.94tri/-.

Vertex International Securities CEO Mateja Mgeta said in the firm’s weekly market review that the equities market echoed their last week’s projection since the turnover went up on the back of an increase in domestic buyer activity.

“However, volume slightly declined. We anticipate an increase in turnover and volume [this] week, especially from industrial counters,” Mr Mgeta said.

The industrial sector surging follows the release of this year’s second quarter financial results for Tanzania Cigarette (TCC) and TBL.