Dar’s stock market maintains an uptrend


According to data from the Dar es Salaam Stock Exchange (DSE market activities recorded a rise recording turnover of 2.44 billion/- marking a weekly increase of 83% from 1.33 billion/- recorded the previous week.

A pre-arranged deal was executed during the week where 2,640,000 CRDB shares were traded at an average price of 380/- per share.

CRDB and NMB for the second consecutive week continued to lead the overall market turnover with 91.9% and 3.7% respectively.

The price movement was however recorded on two national counters during the week, with MBP losing the most value over the week as its stock fell 2.38% to close at 410/- per share.

NMB also lost 0.71% of its value closing the week at 2,800/- per share

Total market capitalization increased by 1.18% to 15.58 billion/- while domestic market capitalization decreased by 0.1% to close at 10.12 billion/-

The Tanzania Equity Index (TSI) closed at 3,829.01 points down 0.1% and the All Share Index (DSEI) closed at 1,870.06 points up 1.18% .

According to market analysts, the fourth quarter of 2020 began with heightened global recessionary concerns, as heightened geopolitical risks supported energy-induced inflationary pressures.

But according to Zan Securities managing director Raphael Masumbuko, “domestically, the DSE swam against the global sell-off, equity investor sentiments were bolstered by positive Q3 22 results from a number counters such as NMB, CRDB, TCC, TWIGA and TBL.

Masumbuko added, “Expectations of a higher result for FY22 will lead to higher prices for the respective meters. The liquidity of the system being constrained by a tight monetary policy cycle. We see potential opportunities in equities with strong fundamentals and attractive entry points”


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