2 May 2017

Tanzania: Dar es Salaam Stock Exchange Index On Steep Fall

Dar es Salaam Stock Exchange all share index (DSEI) registered almost two months low after losing 5.91 per cent or 139.55 points last Friday.

The bourse fall to 2,221.26 points was last experienced in the first week of March this year. However the drop is among the heaviest since the year began.

The DSEI fall was the highest in Africa at 5.91 per cent compared to other bourses on the continent. The nearest was BVRM Stock Exchange fall by 1.48 per cent to 247.01 points.

The last Friday was attributed to fall of stock prices of Acacia Mining, TBL, DSE, KCB Bank and Jubilee Holdings Limited (JHL). According to DSE daily market report, JHL share price went down 20.47 per cent to 10,140/-, the heaviest fall last Friday.

JHL was followed by Acacia that dropped by 13.05 per cent to 11,390/- then KCB Bank that went down 9.21 per cent to close at 690/-.

Others were TBL sunk by 5.83 per cent to 11,300/- and DSE by 3.23 per cent to 1,200/-. The gaining of some stocks, NMG 10.22 per cent to 2,050/- and Kenya Airways 8.33 per cent to close at130/-, the surge failed to knockoff the fall of 5.91 per cent.

The fall also was felt on Tanzania Share Index (TSI) after losing by 98.63 points to 3,475.09 points. The TSI was affected by TBL and DSE share price fall as well.

The bourse total market capitalization fell to 19.32tri/- at the end of April from 20.13tri/- at end of March. On month-to-month domestic market cap sunk to 7.3tri/- from 7.5tri/-.

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