The Dar es Salaam Stock Exchange (DSE) witnessed 57 per cent rise in turnover last week to 4.29bn/- compared to 2.74bn/- of the preceding period, with the Tanzania Breweries Ltd (TBL) and CRDB Bank emerging to be the top traded equities.
According to Zan Securities weekly market wrap-ups, TBL and CRDB contributed 65.23 per cent and 21.92 per cent of the week’s total turnover, respectively. Price movement within locally listed company did not experience any appreciation as most of our top performing equities depreciated in value.
NMB emerged as the top loser with the largest price drop for local listed companies, experiencing a 100/- or 3.45 per cent price decrease to close at 2,800/- per share. Total market capitalisation experienced an increase by 1.35 per cent, closing at 20.77tri/- while domestic market capitalization decreased by 0.82 per cent closing at 9.81tri/-.
Comparatively, key benchmark indices were in both the green and red territory to close the week. The Tanzania Share Index (TSI) capped at 4,631.48 points, lower by 0.82 per cent compared with 4,669.93 points posted last week. The All Share Index (DSEI) closed at 2,371.81 points, higher by 1.36 per cent compared with last week closing at 2,339.99 points.
Three sector indices closed off this week in both the green and red territory as well. Industrial and Allied experienced a decrease, closing at 6,105.55 points down by 0.44 per cent compared to previous week closing at 6,132.58 points.
Banks, Finance and Investment Index experienced a decreased by 1.97 per cent to close at 3,226.46 points compared to last week, closing at 3,291.19 points. Commercial Services Sector remained constant for the past two weeks, closing at 3,953.25 points.
It is anticipated a mixed moderate and low market performance; therefore we recommend Buy and Hold strategy.
Daily News
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