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DSE turnover climbs up to six week high

DAR ES SALAAM Stock Exchange's (DSE), equities market turnover has climbed up to almost six week high echoing analysts’ sentiment of improving performance ahead.

The equities market turnover surged to 317.06m/-for the week ending last Friday against previous week’s 13.93m/-due to return of activity on TBL counter.

The activity on TBL counter signifying the return of foreign investors whose domination spike the bourse performance.

Zan Securities Chief Executive Officer (CEO), Raphael Masumbuko said the market turnover and volume increase echoing their prediction.

"The equity market performance echoed our last week’s sentiment, where we expected an increase of volume and turnover," Mr Masumbuko said in the firm's weekly market wrap-ups report. The performance followed easing of social restrictions against Covid-19 and states initiative to open up economies.

"We expect the performance to continue improving," Mr Masumbuko said yesterday.

During the week under review, TBL dominated the market share by 94.62 percent of the total turnover followed by CRDB by far.

DCB Bank share price dropped 1.69 per cent to close the week at 290/-to affect the domestic market capitalisation that slightly dropped.

The domestic market capitalization dropped slightly to 9.17tri/- while total Market capitalisation increased by 0.12 percent to 15.019tri/-. The key benchmark indices closed the week at mixed reaction when Tanzania share index slight dropped but all share indexes went up marginally.

Tanzania share index (TSI) closed at 3,491.87 points, a slight decrease compared to the week before.

All Share Index (DSEI), increased by 0.12 percent to close at 1,809.09 points.

Sector Indices namely sectorial, Industrial & Allied Index (IA) closed at 4,778.72 points, same as last week.

Bank, Finance & Investment Index dropped 0.01 percent to close at 2,182.38 points while, Commercial Services Index closed at 2,356.49 points, same as last week.

Globally, the S&P 500 and the Dow gained 3 percent on the week, bringing their advance in May to 4.5 percent and 4.2per cent, respectively. The tech-heavy Nasdaq rose 1.7 percent this week, pushing its rally this month to 6.7per cent.

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Author: DAILY NEWS Reporter

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