{"id":44357,"date":"2022-01-03T17:37:13","date_gmt":"2022-01-03T17:37:13","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=44357"},"modified":"2022-01-03T15:42:27","modified_gmt":"2022-01-03T15:42:27","slug":"dar-bourse-all-set-for-rebound-after-festive-season-slowdown","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/dar-bourse-all-set-for-rebound-after-festive-season-slowdown","title":{"rendered":"Dar bourse \u2018all set for rebound\u2019 after festive season slowdown"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>Dar es Salaam<\/b><\/p>\n

. Trading of equities at the Stock Exchange (DSE) declined by nearly a half last week – but investors project a rebound in 2022.<\/p>\n

The total market turnover dropped to Sh698.82 million last week, from the Sh1.48 billion recorded in the previous week, according to reports from brokers.<\/p>\n

The volume of traded shares also decreased to 610, 000 shares from the 4.38 million shares of the previous week, according to the review by the brokerage firm Vertex International Securities Ltd.<\/p>\n

The firm\u2019s capital markets manager, Mr Ahmed Nganya, said that, although the equities market performance declined during the end of 2021, there is hope for a rebound, as price movements signal an improvement.<\/p>\n

\u201cPrice movements indicate that the market has not lost its steam and a rebound in performance in the next week of 2022 is highly possible,\u201d he said.<\/p>\n

Last week, Tanzania Breweries Plc (TBL) was the top market mover, accounting for 34.67 percent of the total market turnover. It was followed by NMB Bank Plc (26.39 percent), and CRDB Bank Plc (14.28 percent). Price movements were recorded at the trading counters of the DSE (which gained by 4.84 percent to close at Sh280 per share) and the CRDB Bank, which gained by 1.82 percent to close at Sh1,300.<\/p>\n

The losing counters were Simba Cement (which lost by 8.33 percent, to close at Sh1,100); Twiga (which lost by 5.56 percent to close at Sh3,400), and Jatu (which lost by 4.65 percent to close at Sh410 per share).<\/p>\n

The brokerage firm Zan Securities Limited stated that, overall, the equity market in 2021 was in green territory, with the majority of equities performing well in comparison to the previous year.<\/p>\n

The company attributed the increased business activities in the market to a recovering economy that had been slowed by the Covid-19 pandemic last year.<\/p>\n

\u201cOn the year-to-date basis, the total market capitalisation went up by five percent, while the domestic market capitalisation went up by three percent. Both the All-Shares Index (DSEI) and the Tanzania Shares Index (TSI) went up by four percent and two percent respectively,\u201d stated Zan Securities\u2019 chief executive, Mr Raphael Masumbuko.<\/p>\n

He also said that the outlook for 2022 leans favourably to price increases in companies that will report increased profits.<\/p>\n

For instance, the Swissport shares movement – which were inactive for most of the year – last week recorded shares trading worth Sh27 million on Friday.<\/p>\n

Mr Masumbuko said \u201cIt might signal that some investors are anticipating recovery of the economy, and resumption of inter country flights to result in better performance by Swissport this financial year.\u201d<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. Dar es Salaam . Trading of equities at the Stock Exchange (DSE) declined by nearly a half last week – but investors project a rebound in 2022. The total market turnover dropped to Sh698.82 million last week, from the Sh1.48 billion recorded in the previous week, according to reports from brokers. The […]<\/p>\n","protected":false},"author":84,"featured_media":44356,"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-44357","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":"\nDar bourse \u2018all set for rebound\u2019 after festive season slowdown - Tanzania<\/title>\n<meta name=\"description\" content=\"Dar es Salaam . 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