DAR ES SALAAM: Dar es Salaam Stock Exchange (DSE) experienced a decrease in activity by 84.27 per cent last month but is tipped to pick up this month.
The market, last year in December tumbled by 84.27 per cent to 18.12bn/- from 115.18bn/- in the previous month affected by the end-year festivals--Christmas and New Year.
Exodus Advisory CEO Ramadhan Kagwandi said that last month, market activities showed a slight
fluctuation, with certain shares experiencing capital growth while others witnessed a decline in prices.
"The expectation is a rise in market activity at the start of the year....
"While the fluctuations in stock prices presently correlate with year-end reports," Mr Kagwandi said in the firm's monthly market report.
These factors, according to the report, are projected to drive heightened trading and impact the overall dynamics of market activities throughout.
However, the overall market capitalisation exhibited an increase of 0.88 per cent, signaling an increase in the total value of market assets.
Additionally, domestic market capitalisation, which reflects the value of stocks from local companies, increased by 0.26 per cent.
"This uptick suggests a potential performance of local businesses during the month," he said.
Throughout last December, the all-share index saw an increase from 1,736.86 points to 1,750.63 points.
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Simultaneously, the Tanzania share index experienced an increase of 0.15 per cent to reach 4,304.40 points.
"These changes indicate a positive performance trend for both local and cross-listed counters in the market during December," the report showed.
Banks, Finance and Investment Index showed a rise, increasing by 0.41 per cent to 4,536.46 points and Industrial and Allied indices showed a growth, increasing by 0.05 per cent to 5,182.51 points.
The Commercial Services Index declined by 0.04 per cent concluding at 2,147.74 points.
Locally, NICO recorded the highest appreciation of 9.89 per cent
followed by MBP (8.93 per cent), TCCL (4.95 per cent) and CRDB (1.10 per cent).
On the other hand, TICL recorded the lowest performance falling by 7.32 per cent followed by DSE (3.23 per cent) and SWIS by (1.49 per cent).
