Tanzania: DSE Shows Sign of Bullish Trend

DAR ES SALAAM Stock Exchange (DSE) total market capitalization has increased by 1.08 per cent to 19.17tri/- in the last seven days signifying coming out of the wood.

This was the second week the market cap is increasing suggesting turning around the bourse months' bearish market trend. Also domestic market cap went up by 0.12 per cent to 9.07tri/- for the week ending last Friday.

Zan Securities Chief Executive Officer Raphael Masumbuko said the market echoed their sentiment of performance and turnover of last week.

"The equity market echoed our last week sentiment in performance and turnover. "We forecast more improvement in the remaining two quarters," Mr Masumbuko said through Zan Weekly Market Wrap-Ups report.

Orbit Securities Weekly Synopsis report attributed the market caps surge to TSI Twiga price going up 3.0 per cent to 2,06 0/- and DSEI owed to Acacia, EABL and KCB for the increased points.

The report also showed that Tanzania Share Index (TSI) closed at 3,299.53 points or 0.12 per cent up.

The All Share Index (DSEI) gained 1.08 per cent to close at 1,944.90 points. Zan Securities report showed that the equities market turnover surged to 3.56 bn/- against a turnover of 462.93m/- in the week before.

TBL was a top market mover with 72.29 per cent of market turnover, followed by CRDB with 21.30 per cent. Other sector indices closed such as Industrial and Allied Index (IA) closed at 4,521.58, up by 0.20 per cent.

While, Bank, Finance and Investment Index closed at 2,036 .8 7 points, same as the week before and Commercial Services Index did not move and closed at 2,238 .14 points.

See What Everyone is Watching

More From: Daily News

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.