9 April 2018

Tanzania: DSE Market Capitalisation Plunges By Over Sh43 Billion

Dar es Salaam — The Dar es Salaam Stock of Exchange (DSE) total market capitalisation fell by Sh43.47 billion to close at Sh23,531.05 billion on Friday from Sh23,674.52 billion recorded on Thursday.

The drop in total market capitalisation was a result of a decrease in share prices of cross-listed Kenya-based companies, including Kenya Airways (KA), East African Breweries Limited (EABL), Nation Media Group (NMG) and Kenya Commercial Bank (KCB).

The decrease in share prices for cross-listed firms also lowered the Dar es Salaam Stock of Exchange all share Index (DSEI) by 14.9 per cent to 2,443.5 points on Friday last week from 2,458.4 points recorded the previous day.

The Tanzania Share index (TSI), which measures the performance of local listed companies, remained flat at 4,100.64 points during the period under review.

The DSE market report shows that KA was a top loser after recording a decrease of 3.33 per cent in share price to Sh290 from Sh300 recorded on Thursday.

EABL was second after its share went down by 1.22 per cent to a close at Sh5,560 on Friday from Sh5,730 recorded on Thursday, while KCB and NMG shares prices fell to Sh1,190 and Sh2,450 from Sh1,200 and Sh2,470, respectively, during the period under review.

At the end of the week, it was only Jubilee Holdings Limited (JHL) which showed an increase in share prices by 0.25 per cent from Sh11,810 on Thursday to Sh11,840 on Friday.

The market report shows that a total turnover of Sh28.28 million from trading 28,101 shares in 33 deals was recorded.

All shares sold on Wednesday were floated by local investors by 100 per cent, while 100 per cent of the value was injected by local investors through buying.

The report shows that Tanzania Portland Cement Company (TPCC) transacted the largest value of shares with Sh20.7 million obtained by selling 13,270 shares at Sh1,580 per share in seven deals.

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