Dar es Salaam — The Dar es Salaam Stock Exchange's total market capitalisation increased by Sh121.25 billion last week, compared with the previous week, following appreciation of share prices at some cross-listed counters.
DSE market reports indicate that the bourse's total market capitalisation surged to Sh17,029.96 billion in the week that ended on Friday December 20, 2019, compared with the Sh16,908.71 billion recorded in the week that ended on Friday, December 13, 2019.
The increase in market capitalisation resulted from share prices appreciation for the East African Breweries Ltd (EABL) - by 1.15 percent, to Sh4,390, from Sh4,340.
The Kenya Commercial Bank's share price went up by 0.92 percent, to Sh1,200 from Sh1,160 in the period under review.
There were no price movements recorded by local counters. Hence, the domestic market capitalisation remained at Sh9,010.58 billion, same as the previous week.
However, Zan Securities' weekly market turnover showed that the equities market turnover declined by 20 percent, to Sh3.23 billion against the previous week's Sh4.03 billion.
According to the wrap-ups, Tanzania Breweries Ltd (TBL) was the top mover - with 87.87 percent of the total market turnover - followed by CRDB Bank, with 11.46 percent.
Other active counters last week were the DCB Commercial Bank (DCB), DSE Plc, Tanzania Portland Cement Company (TPCC), Vodacom Tanzania, Tanzania Cigarette Company (TCC) and the National Investment Company Ltd (Nicol).
Reports also say that 85 percent of the shares that were injected last week were bought by local investors, the amount equalling Sh2.84 billion of the total turnover. Foreign investors bought shares worth Sh397.7 million.
"The Equity market closed in green - thanks to a positive performance from cross-listed counters. However, the turnover declined, indicating a change in last weeks' momentum. We remain upbeat in our expectations of positive performance in the weeks ahead," Zan Securities noted on its outlook report.