Tanzania: Dse Activities to Remain Firmer
Dar es Salaam Stock Exchange (DSE) activities will remain firmer as investors are likely to improve after the general election successful and safely ended.
Market analysts’ projection based on the fact that both local and foreign investors activities have increased after turnover and stock prices rose last week.
The DSE market turnover almost went up four times to 4.5bn/- for the week that ended Friday compared to 1.2bn/- of previous week.
Tanzania Securities said in their Weekly Market Blast that this week the bourse was expected to remain attractive with the coming back of foreigners amidst growing stock appetite for local investors.
“The market [will] remain firmer, investors’ partaking is likely to improve both local and foreign as the general election ended well.
“This indicates that the market will remain attractive with foreign investors going forward,” Tanzania Securities said in the report.
Foreign purchase jumped almost four times from 851.43m/- to 3.16bn/-.
For the week ending last Friday, EABL share price increased by 5.03 per cent to 3,340/- from 3,180/-, KCB rose by 5.33per cent to 790/- from 750/-, Nicol by 9.09per cent to 180/- from 165/- and NMG by 11.11per cent to 350/- from 315/-.
On the other hand, JHL share price decreased by 0.88per cent to 5,650/- from 5,700/-.
Zan Securities Chief Executive Officer Raphael Masumbuko said in Weekly Market Wrap-up that the equity market performance echoed their last week’s sentiments.
“We forecast further improvements in performance [this] week as we expect block trades to continue” Mr Masumbuko said.
Last week, TBL was a top market mover, taking 76.97 per cent of the total market share, followed by CRDB Bank with 19.33 per cent.
Total market capitalisation increased by 1.68 per cent to 15.049tri/-, while domestic market capitalisation increased by 0.01 per cent to 9.129tri/-.