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DSE Shows Sign of Bullish Trend

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Dar er 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.

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“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.

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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.

Source: DailyNews

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