{"id":81663,"date":"2023-03-28T20:42:21","date_gmt":"2023-03-28T20:42:21","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks"},"modified":"2023-03-28T20:48:50","modified_gmt":"2023-03-28T20:48:50","slug":"dse-witnesses-remarkable-weekly-surge-in-stocks","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks","title":{"rendered":"DSE witnesses remarkable weekly surge in stocks"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>The Dar es Salaam Stock Exchange witnessed a remarkable surge in stocks last week, led by Swissport, a leading cargo handling company, which recorded a 13% increase in its share price.<\/p>\n

The stock concluded the week trading at TZS 1,420 per share, marking the first time the stock had reached this range since November 2022. Tanga Cement also put in a strong performance, closing with a 7% rise in its share price. Investors have been active in trading the counter for the past week, speculating on the possibility of its acquisition by Heidelberg Cement, which already owns a majority stake in Twiga Cement.<\/p>\n

CRDB, the most liquid counter in the exchange, also saw its share price surge to a new high of TZS 470 per share, representing a 3.3% increase. The impressive fundamentals consistently reported by the bank over time are a testament to its growth and stability.<\/p>\n

Twiga Cement gained 3.1% as the stock closed the week at TZS 4,040. The stock has consistently delivered robust financial results and a generous dividend, making it a favourite among investors. NMB\u2019s share price also surged to TZS 3,600 per share (+2.86%), setting yet another new high for the counter.<\/p>\n

Year-to-date, NMB remains the top-performing stock at the Dar es Salaam Stock Exchange, having recorded an impressive 80% increase.<\/p>\n

The strong performances of these stocks boosted the Tanzania Share Index (TSI) by 46 points, propelling the domestic market to TZS 10.8 trillion.<\/p>\n

Despite political unrest in Kenya, cross-listed stocks also performed well last week. KCB stood out with a remarkable 13% increase, recouping some of its previous losses.<\/p>\n

National Media Group (NMG) closed 4% higher, while East African Breweries made marginal gains of 0.3%. Unfortunately, Jubilee Holdings was the only stock that closed on a negative note, plummeting by 4%.<\/p>\n

Supplemented by robust domestic stocks, the All Share Index (DSEI) gained an impressive 39.85 points, pushing the total equity market cap to TZS 15.8 trillion.<\/p>\n

Although stocks performed well, turnover in the equity market dropped by 49% to TZS 675.3 million. The volume of shares traded also fell by 60%, with only 987 thousand shares traded.<\/p>\n

This drop can be attributed to the lack of foreign investor participation in the market. Our statistics indicated strong domestic investor participation, with domestic investors accounting for 100% of all share purchases and 90% of all selling activities.<\/p>\n

Foreign investors are still reluctant to invest in frontier markets due to elevated risk levels in global financial markets.<\/p>\n

However, this situation presents a rare opportunity for domestic retail and institutional investors to aggressively buy high-performing stocks and hold onto them, waiting for market conditions to stabilize before selling them at a profit when foreign participation returns to normal.<\/p>\n

GOVERNMENT TREASURY SECURITIES<\/b><\/p>\n

Last Wednesday, the Bank of Tanzania held a treasury bill auction for tenors of 35, 91, 182, and 364 days.<\/p>\n

The 364-day tenor garnered significant demand and interest due to its attractive yields and short tenure, making it a preferred investment instrument for entities such as insurance companies that value liquidity and satisfactory returns.<\/p>\n

The Bank of Tanzania aimed to raise TZS 77.2 billion for the 364-day tenor, but investor bids exceeded expectations, totalling TZS 156 billion \u2013 resulting in a 102% oversubscription.<\/p>\n

The Bank of Tanzania secured all available funds, as all 31 bids for the 364- day tenor were successful. The weighted average yield for the 364-day tenor settled at 6.56%, which is 9 basis points lower than the previous yield of 6.65%.<\/p>\n

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

Africa-Press – Tanzania. The Dar es Salaam Stock Exchange witnessed a remarkable surge in stocks last week, led by Swissport, a leading cargo handling company, which recorded a 13% increase in its share price. The stock concluded the week trading at TZS 1,420 per share, marking the first time the stock had reached this range […]<\/p>\n","protected":false},"author":84,"featured_media":81661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-81663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nDSE witnesses remarkable weekly surge in stocks - Tanzania<\/title>\n<meta name=\"description\" content=\"The Dar es Salaam Stock Exchange witnessed a remarkable surge in stocks last week, led by Swissport, a leading cargo han ...\" \/>\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-witnesses-remarkable-weekly-surge-in-stocks\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DSE witnesses remarkable weekly surge in stocks\" \/>\n<meta property=\"og:description\" content=\"The Dar es Salaam Stock Exchange witnessed a remarkable surge in stocks last week, led by Swissport, a leading cargo han ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks\" \/>\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=\"2023-03-28T20:42:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-28T20:48:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/03\/postQueueImg_1680019949.68.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"406\" \/>\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=\"3 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-witnesses-remarkable-weekly-surge-in-stocks#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DSE witnesses remarkable weekly surge in stocks\",\"datePublished\":\"2023-03-28T20:42:21+00:00\",\"dateModified\":\"2023-03-28T20:48:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks\"},\"wordCount\":562,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/03\/postQueueImg_1680019949.68.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-witnesses-remarkable-weekly-surge-in-stocks\",\"name\":\"DSE witnesses remarkable weekly surge in stocks - 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