{"id":86854,"date":"2023-05-29T19:34:17","date_gmt":"2023-05-29T19:34:17","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-experiences-three-weeks-of-bull-run"},"modified":"2023-05-29T19:38:26","modified_gmt":"2023-05-29T19:38:26","slug":"dse-experiences-three-weeks-of-bull-run","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-experiences-three-weeks-of-bull-run","title":{"rendered":"DSE experiences three weeks of bull run"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>Dar es Salaam Stock Exchange (DSE) activities have maintained a bull run for the third consecutive week.<\/p>\n

The total turnover for last week reached 4.9bn\/-, marking a notable increase of 23.63 per cent compared to the previous week.<\/p>\n

Zan Securities Chief Executive Officer Raphael Masumbuko said the overall market exhibited a bullish sentiment, resulting in growth in both the total market capitalisation and the domestic capitalisation.<\/p>\n

\u201cThe market outlook for the coming weeks appears cautiously positive.<\/p>\n

\u201cWhile challenges and risks persist, the overall economic environment remains favourable, supported by solid corporate earnings,\u201d Mr Masumbuko said in the firm weekly market wrap-ups.<\/p>\n

In terms of market cap, the total market capitalization rose by 0.12 per cent to 15.169tri\/-, while the domestic market cap increased by 0.01 per cent to 10.935tri\/- by the end of the last week.<\/p>\n

Vertex International, Advisory and Capital Markets Manager, Ahmed Nganya, attributed the bourse equity market bullish run to several foreign buyers who increased to push turnover up.<\/p>\n

\u201cThe domestic equities market echoed our last week forecast as market performance was fuelled by Industrial counters, specifically, TBL,\u201d Mr Nganya said in the firm\u2019s market review adding:<\/p>\n

\u201cWe forecast an increase in turnover, volume and prices [this] week as we expect foreign buyers\u2019 activity to continue\u201d.<\/p>\n

Nevertheless, among the top trading counters, last week were TBL, Twiga Cement, and CRDB Bank, dominating the market with 96.61 per cent, 1.49 per cent, and 0.76 per cent of the total market turnover, respectively.<\/p>\n

Notably, a pre-arranged deal involving 790,000 TBL shares was executed at an average of 6,000\/- per share (10,900\/- counter price), significantly contributing to the overall turnover for the week. TBL c<\/p>\n

Additionally, last week two counters experienced price gains. DSE led the gainers with an increase of 5.56 per cent, to 1,900\/- per share and Twiga gained 0.49 per cent to 4,120\/-.<\/p>\n

On the other hand, Swissport declined by 8.54 per cent to close last at 1,500\/- primarily occurred a day after its Annual General Meeting (AGM) last Thursday, despite an approval of a 42\/- dividend a share.<\/p>\n

Also, looking at the year-to-date performance, the market cap of the DSE experienced a decline of 3.3 per cent, primarily driven by the devaluation of cross-listed stocks.<\/p>\n

However, the domestic market cap has shown consistent growth, recording a 6.4 per cent increase since the beginning of the year.<\/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 Stock Exchange (DSE) activities have maintained a bull run for the third consecutive week. The total turnover for last week reached 4.9bn\/-, marking a notable increase of 23.63 per cent compared to the previous week. Zan Securities Chief Executive Officer Raphael Masumbuko said the overall market exhibited a bullish […]<\/p>\n","protected":false},"author":84,"featured_media":86853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-86854","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 experiences three weeks of bull run - Tanzania<\/title>\n<meta name=\"description\" content=\"Dar es Salaam Stock Exchange (DSE) activities have maintained a bull run for the third consecutive week. 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