Dar es Salaam — THE Dar es Salaam Stock Exchange (DSE) recorded a softer trading week during the period ended April 10, 2026, with overall market turnover declining by 36.9 per cent to 13.88bn/- from 21.99bn/- in the previous week.
The drop in turnover was largely driven by reduced trading volumes, which fell by 6.4 per cent to 6.62 million shares, reflecting relatively cautious investor participation.
Foreign investor activity remained net negative, with net foreign outflows widening by 47.9 per cent to 4.89bn/- compared to outflows of 3.30bn/- in the preceding week.
This suggests sustained profit-taking and portfolio rebalancing by offshore investors, which continued to weigh on market sentiment.
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Despite the decline in trading activity and persistent foreign selling pressure, market capitalisation posted notable gains.
Total market capitalisation rose by 2.9 per cent to 34.34tri/-, while domestic market capitalisation increased by 3.2 per cent to 23.61tri/-.
This indicates that price appreciation in selected counters supported overall market value during the week. Trading activity was highly concentrated in a few counters, with CRDB dominating the market and accounting for 69.8 per cent of total turnover at 9.68bn/- .
AFRIPRISE followed with a 10.5 per cent contribution, while NMB contributed 9.9 per cent, highlighting strong investor focus on liquid banking and financial services stocks.
On the price performance front, gains were broad-based among selected counters. KA emerged as the top gainer, advancing 27.3 per cent to close at 140/-, followed by PAL which rose 18.7 per cent to 540/-.
TOL gained 11.4 per cent, MKCB rose 9.9 per cent, while CRDB added 7.6 per cent, supported by strong demand and robust trading volumes.
On the downside, MBP was the week's biggest losers, declining 6.7 per cent, while SWIS fell 5.4 per cent and TTP lost 3.9 per cent.
NMB also edged lower by 0.1 per cent, despite remaining among the most actively traded counters. Overall, the market reflected mixed sentiment during the week.
While lower turnover and rising foreign outflows pointed to cautious investor behaviour, gains in domestic market capitalisation and strong performance in select blue-chip and midcap counters provided resilience, suggesting continued confidence in fundamentally strong stocks.
Key benchmark indices
All Share Index (DSEI) closed at 3,952.19 points up by 2.91 per cent. Tanzania Share Index (TSI) closed at 8,725.71 points up by 3.19 per cent.
Sector indices
Industrial & Allied Index (IA) closed at 5,140.87 points up by 2.2 per cent.
Bank, Finance & Investment Index closed at 19,173.83 points, up by 3.59 per cent.
Commercial Services Index closed at 2,324.97 points, up by 3.38 per cent.
Highlights: Debt market
On April 8th, 2026, central bank was in the market offering treasury bills to investors.
The offerings included 29.9bn/- for the 35-day maturity Treasury bill, 39.9bn/- for the 91-day T-bill, 59.9bn/- for the 182- day T-bill and 85.2bn/- for the 364-day T-bill.
Investor demand in this auction was relatively strong across all maturities, with all Treasury bills recording oversubscription.
The 35- day bill attracted solid interest, posting a subscription rate of 282.61 per cent, the 91-day bill 156.6 per cent, the 182-day bill 150.25 per cent and the 364-day bill also achieved a subscription rate of 123.24 per cent.
Strong demand was observed across all maturities in the latest Treasury bill auction.
The Bank of Tanzania allotted slightly higher amounts than initially offered for the 35-day and 91-day bills. Similarly, the 182-day bill saw an overallotment, while the 364-day bill was fully allotted at the initially offered amount.
Yields declined across most tenors, reflecting continued investor appetite and liquidity in the market.
However, the 364-day Treasury bill was an exception, with its weighted average yield rising to 5.7846 per cent from 5.1958 per cent recorded in the lateMarch auction an increase of 58.88 basis points.
The minimum successful price also improved, increasing to 94/2656 from 94/0005 in the previous auction. Overall, the auction results indicate sustained demand for government securities, with a general downward trend in yields.
Secondary market activity
The bond market recorded a notable decline in trading activity during the week ended April 10, with total turnover falling to 29.05bn/- from 78.13bn/- in the previous week, representing a 62.8 per cent week-on-week decrease.
The slowdown reflects reduced secondary market participation following the elevated activity observed in the prior week.
Despite the lower turnover, investor appetite remained concentrated in medium- to long-dated government securities, particularly in the 20-year segment.
The 20-year 15.49 per cent bond emerged as the most actively traded instrument, accounting for 9.07bn/-, or 31.2 per cent of total market turnover, with an average traded price of 116.95 and a weighted average yield of 13.47 per cent.
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This was followed by the 20-year 12.10 per cent bond, which recorded 4.51bn/- in trades at an average yield of 12.24 per cent.
Market outlook:
The DSE is showing strong signs of a recovery, with price-driven momentum signalling a "bounce back" despite a softer week in terms of trading volume.
These gains suggest that the market is shedding its previously subdued state, as price appreciation in select counters successfully offset reduced trading activity.
Looking ahead, the market is expected to build on the resilience of the Industrial & Allied segment and the strong performance of blue-chip banking stocks. Sector indices have already begun to reflect this upward trajectory.
While foreign outflows remain a factor to monitor, the increasing domestic market value and high concentration of interest in liquid counters like CRDB which dominated 69.8 per cent of the week's turnover suggest that local demand is providing a robust foundation for a gradual and sustained rally.
In the fixed income market, investor appetite remains high, particularly in long-dated government securities.
