{"id":28263,"date":"2021-05-04T16:17:11","date_gmt":"2021-05-04T16:17:11","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=28263"},"modified":"2021-05-04T14:55:22","modified_gmt":"2021-05-04T14:55:22","slug":"dse-on-bull-run-thanks-to-banks-results","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results","title":{"rendered":"DSE on bull-run, thanks to banks results"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>DAR ES SALAAM Stock Exchange (DSE) equity market is tipped to enter a bullrun driven by positive banks first quarter results.<\/p>\n

The equity market analysts projected the bullish trend following the last week trading, where volume and turnover rebounded 86.64 per cent on week-on-week basis.<\/p>\n

Vertex International Securities Advisory and Capital Markets Manager, Ahmed Nganya, said the banks\u2019 first quarter results signal strong performance going forward for the bourse.<\/p>\n

\u201cWe expect banks\u2019 first quarter results to boost equity market performance [this] week,\u201d Mr Nganya said in the firm\u2019s latest weekly market review.<\/p>\n

The firm said the market validated their previous week forecast on volume and turnover picked up, as block trades continue.<\/p>\n

Zan Securities Chief Executive Officer Raphael Masumbuko noted that the equity market was gaining a positive momentum and showing an increasing appetite from both local and foreign investors.<\/p>\n

\u201cWe anticipate this participation trend to continue for this new month of May,\u201d Mr Masumbuko said in the firm\u2019s Weekly Market Wrap-Ups.<\/p>\n

CRDB and NMB, two largest banks in the country, reported strong performance in quarter one despite coronavirus and beginning of the year challenges.<\/p>\n

CRDB pre-tax profit surges by 36 per cent to 62bn\/- and NMB tax before profit climbed 34 per cent to 93bn\/-.<\/p>\n

CRDB\u2019s Managing Director and Group CEO, Abdulmajid Nsekela, attributed the upsurge in operating income and profit to the increase in interest and similar income.<\/p>\n

\u201cWe are off to a strong start in [this year] with impressive earnings for the first quarter,\u201d Mr Nsekela noted.<\/p>\n

NMB\u2019s Managing Director, Ms Ruth Zaipuna, said over the weekend that the solid performance reflects continued revenue growth momentum, disciplined cost-optimization, and enhanced loan portfolio management.<\/p>\n

\u201cWe had a promising start,\u201d Ms Zaipuna said in a statement, since \u201cwe have a firm grip on cost and risk.\u201d<\/p>\n

During the week ended last Friday, CRDB ascended by 6.98per cent to close the week at a price of 230\/-.<\/p>\n

\u201cThe bank\u2019s appreciation is based on the expectations of a handsome dividend despite the uncertainties of regulatory approvals from the Bank of Tanzania,\u201d Orbit Securities said in its Weekly Market Synopsis.<\/p>\n

NMB, another major mover for the last week, moved 500,000 shares at a price of 1,700\/-, accounting for 26.9per cent of the total turnover.<\/p>\n

However, some economists are skeptics on the banks increasing profit while credit to private sector subbed due to coronavirus pandemic.<\/p>\n

\u201cThis is real an interesting move especially at the time banks are said to make huge profits as it is emerging on first quota published data,\u201d Dr Hildebrand Shayo, an economistcum- investment banker said.<\/p>\n

However, Bank of Tanzania (BoT) latest Monthly Economic Review showed economic activities recorded a strong positive credit growth largely representing lending for micro and small enterprises.<\/p>\n

\u201cIn terms of share to private sector credit outstanding, loans extended for personal activities continued to dominate, followed by trade and manufacturing activities,\u201d BoT report added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. DAR ES SALAAM Stock Exchange (DSE) equity market is tipped to enter a bullrun driven by positive banks first quarter results. The equity market analysts projected the bullish trend following the last week trading, where volume and turnover rebounded 86.64 per cent on week-on-week basis. Vertex International Securities Advisory and Capital Markets […]<\/p>\n","protected":false},"author":84,"featured_media":28262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-28263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nDSE on bull-run, thanks to banks results - Tanzania<\/title>\n<meta name=\"description\" content=\"DAR ES SALAAM Stock Exchange (DSE) equity market is tipped to enter a bullrun driven by positive banks first quarter res ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DSE on bull-run, thanks to banks results\" \/>\n<meta property=\"og:description\" content=\"DAR ES SALAAM Stock Exchange (DSE) equity market is tipped to enter a bullrun driven by positive banks first quarter res ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-04T16:17:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/05\/img-609160420a5b3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"654\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DSE on bull-run, thanks to banks results\",\"datePublished\":\"2021-05-04T16:17:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results\"},\"wordCount\":491,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/05\/img-609160420a5b3.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-on-bull-run-thanks-to-banks-results\",\"name\":\"DSE on bull-run, thanks to banks results - 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