{"id":6233,"date":"2020-03-31T15:03:44","date_gmt":"2020-03-31T15:03:44","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=6233"},"modified":"2020-03-31T15:03:44","modified_gmt":"2020-03-31T15:03:44","slug":"dse-index-plunges-to-seven-year-low","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low","title":{"rendered":"DSE INDEX PLUNGES TO SEVEN-YEAR LOW"},"content":{"rendered":"
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AfricaPress-Tanzania:<\/strong> DAR ES SALAAM Stock Exchange (DSE), Index, measuring total market in-depth, has plunged to seven years low due to coronavirus effects.<\/p>\n

The DSEI dropped to 1733.03 points yesterday, which was seen in the last day of December 2013, affected mostly by cross-listed shares from Kenya\u2019s Nairobi Securities Exchange (DSE).<\/p>\n

Tanzania Securities said in weekly market blast yesterday that DSEI was mainly pushed by cross-listed stocks from NSE.<\/p>\n

\u201cThis is mainly due to share price drop of cross listed stock especially those listed in NSE,\u201d the weekly report said.<\/p>\n

In a week ending last Friday cross-listed firms share namely EABL dropped by 14 per cent to 3,000\/-, JHL by 17 per cent to 5,450\/-, Kenyan Airways by 14 per cent to 30\/-, KCB declined by 14 per cent to 760\/-, NMG by 4 per cent to 510\/-.<\/p>\n

Also in a weekly basis to last Friday, total market capitalization declined by 6.0 per cent to 14.44tri\/-from 15.34tri\/-while domestic market capitalisation slightly declined by 0.4 per cent to close the week at 9.14tri\/-.<\/p>\n

Orbit Securities Head of Market and Analytics, Imani Muhingo earlier said DSE market being more than 85 per cent foreign driven, was already affected following the global financial markets meltdown.<\/p>\n

\u201cI believe our turning point was when an isolated case was registered in the US, because this is when alarm bells rang for global investors,\u201d Mr Muhingo said.<\/p>\n

He said going forward was expected to be a dull market in the next few weeks or months until corona is containable and its impact fully assessed.<\/p>\n

\u201cWe may have some few sizeable off-market transactions but the general view is still gloomy,\u201d Mr Muhingo said.<\/p>\n

This February, DSEI reached a best point at 2130.39 points which was a year high but dropped drastically after WHO categorized coronavirus as pandemic.<\/p>\n

Nevertheless, comparative returns of DSEI, according to Bloomberg analysis, total return for the last seven years stands at 46.74 per cent while price change was 10.32 per cent.<\/p>\n

However, DSEI comparative returns are poorly compared to Tanzania all Share Index (TSI), tracking domestic shares, which recorded seven year return of 53.07 per cent while price change stands at 20.66 per cent.<\/p>\n

Regionally, Kenya\u2019s Nairobi Securities Exchange (NSE) recorded better returns against the rests. NSE all share Index total seven years comparative stood at 100.07 per cent and a price change of 20.66 per cent.<\/p>\n

Uganda Securities Exchange all share index returns was the lowest in the region at 11.69 per cent and price change of 11.69 per cent.<\/p>\n<\/div>\n

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AfricaPress-Tanzania: DAR ES SALAAM Stock Exchange (DSE), Index, measuring total market in-depth, has plunged to seven years low due to coronavirus effects. The DSEI dropped to 1733.03 points yesterday, which was seen in the last day of December 2013, affected mostly by cross-listed shares from Kenya\u2019s Nairobi Securities Exchange (DSE). Tanzania Securities said in weekly […]<\/p>\n","protected":false},"author":84,"featured_media":6225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[887,3070,888],"class_list":["post-6233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-dsei","tag-nse","tag-tsi"],"yoast_head":"\nDSE INDEX PLUNGES TO SEVEN-YEAR LOW - Tanzania<\/title>\n<meta name=\"description\" content=\"DAR ES SALAAM Stock Exchange (DSE), Index, measuring total market in-depth, has plunged to seven years low due to coronavirus effects.\" \/>\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-index-plunges-to-seven-year-low\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DSE INDEX PLUNGES TO SEVEN-YEAR LOW\" \/>\n<meta property=\"og:description\" content=\"DAR ES SALAAM Stock Exchange (DSE), Index, measuring total market in-depth, has plunged to seven years low due to coronavirus effects.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low\" \/>\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=\"2020-03-31T15:03:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/7880fbec442eb1100e64e16ab8ad4e0f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"579\" \/>\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-index-plunges-to-seven-year-low#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DSE INDEX PLUNGES TO SEVEN-YEAR LOW\",\"datePublished\":\"2020-03-31T15:03:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low\"},\"wordCount\":408,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/7880fbec442eb1100e64e16ab8ad4e0f.jpg\",\"keywords\":[\"DSEI\",\"NSE\",\"TSI\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/dse-index-plunges-to-seven-year-low\",\"name\":\"DSE INDEX PLUNGES TO SEVEN-YEAR LOW - 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