{"id":5514,"date":"2020-03-19T15:14:54","date_gmt":"2020-03-19T15:14:54","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=5514"},"modified":"2020-03-19T15:14:54","modified_gmt":"2020-03-19T15:14:54","slug":"dse-bearish-drift-continue-due-to-coronavirus","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus","title":{"rendered":"DSE BEARISH DRIFT CONTINUE DUE TO CORONAVIRUS"},"content":{"rendered":"

AfricaPress-Tanzania: <\/strong>TRADING of Dar es Salaam Stock Exchange (DSE) is projected to continue slowing down until when coronavirus will be put under control.<\/p>\n

The bourse weekly turnover dropped to the lowest in two years last week due to what is termed as the effect of the virus that hit hard the world.<\/p>\n

DSE total turnover dropped ten times to 11.92m\/-Tuesday from 111.34m\/-recorded Monday.<\/p>\n

Also shares exchanging hands dropped to 58,720 shares on Tuesday from 178,955 shares on Monday.<\/p>\n

Orbit Securities Head of Research and Financial Analytics, Imani Muhingo said they were expecting the bearish mode to stick in the next few weeks or even month until the contagion is stopped.<\/p>\n

\u201dWe expect to see the same in the next few weeks or months, until there is plausible evidence of the virus’ containment,\u201d Mr Muhingo told \u2018Daily News\u2019.<\/p>\n

Orbit Securities lead analysts said the impact is much on a sell-off and muted activities from foreign investors, which is contagion to local investors as well.<\/p>\n

\u201cAs the results, weekly equity turnover on DSE dropped to the lowest point in the last two years,\u201d Mr Muhingo, who is an economist, said.<\/p>\n

The virus effect did not only affect DSE but also Kenya\u2019s Nairobi Stock Exchange was halted from trading on Friday as the market dropped more than 5.0 per cent and trigger circuit breaker.<\/p>\n

Zan Securities Chief Executive Officer (CEO), Raphael Masumbuko said the bearish mode might continue toward the end of quarter one.<\/p>\n

\u201cWe do not expect a pick-up in activity until the end of this quarter,\u201d Mr Masumbuko said through Weekly Market Wrap-ups.<\/p>\n

He further said \u201cthe equity market has posted abysmal performance due to on-going global events [Covid-19]\u201d.<\/p>\n

The market turnover plunged to 75.17m\/-for a week ending last Friday against previous week 182m\/-to affect also the bourse indices\u2014DSE Index and Tanzania Share Index (TSI).<\/p>\n

DSE\u2019s total market capitalisation declined by 3.27 per cent to 16.51tri\/-while domestic market capitalisation slipped 0.43 per cent to close at 9.18tri\/.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: TRADING of Dar es Salaam Stock Exchange (DSE) is projected to continue slowing down until when coronavirus will be put under control. The bourse weekly turnover dropped to the lowest in two years last week due to what is termed as the effect of the virus that hit hard the world. DSE total turnover […]<\/p>\n","protected":false},"author":84,"featured_media":5506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[886,2158,1801],"class_list":["post-5514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-dse","tag-imani-muhingo","tag-raphael-masumbuko"],"yoast_head":"\nDSE BEARISH DRIFT CONTINUE DUE TO CORONAVIRUS - Tanzania<\/title>\n<meta name=\"description\" content=\"TRADING of Dar es Salaam Stock Exchange (DSE) is projected to continue slowing down until when coronavirus will be put under control.\" \/>\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\/economy\/dse-bearish-drift-continue-due-to-coronavirus\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DSE BEARISH DRIFT CONTINUE DUE TO CORONAVIRUS\" \/>\n<meta property=\"og:description\" content=\"TRADING of Dar es Salaam Stock Exchange (DSE) is projected to continue slowing down until when coronavirus will be put under control.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus\" \/>\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=\"2020-03-19T15:14:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/2580909892fc48b9bc4edfdcf6b34499.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\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\/economy\/dse-bearish-drift-continue-due-to-coronavirus#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DSE BEARISH DRIFT CONTINUE DUE TO CORONAVIRUS\",\"datePublished\":\"2020-03-19T15:14:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus\"},\"wordCount\":336,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/2580909892fc48b9bc4edfdcf6b34499.jpg\",\"keywords\":[\"DSE\",\"Imani Muhingo\",\"Raphael Masumbuko\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-bearish-drift-continue-due-to-coronavirus\",\"name\":\"DSE BEARISH DRIFT CONTINUE DUE TO CORONAVIRUS - 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