DSE market capitalisation reaches 15.25tri/-

Market capitalisation of the Dar es Salaam Stock Exchange (DSE) has increased significantly to 13.25tri/- at present, which is 14.87 per cent gain compared to 11.53tri/- recorded last January.

According to the DSE key equities market Indicators, domestic market capitalisation jumped to 3.06tri/- in the period under review equivalent to 29.96 per cent increase compared to 2.35tri/- realized in January 2012.

During the year, the market report demonstrates further that the DSE All Share Index increased to 1,491 points from 1,298 points January last year.

The Tanzania Share Index (TSI) surged to 1,454 points compared to 1,119 points recorded in the corresponding period last year.

The outstanding performances of the bourse indexes is attributed to the increase of share prices of different listed companies like Swissport which is currently standing at 1,720/- up compared to about 650/- recorded in the corresponding period.

Also firms like the Tanzania Breweries Limited (TBL), the Tanzania Cigarette Company (TCC), and the National Microfinance Bank (NMB) continued to perform well in the market. During this period, local investors participated actively in the market managing to carry out deals worth 97.8bn/- compared to 89.23bn/- raised between January and March 2012.

Foreign investors injected 2.22bn/- by January this year compared to 10.77bn/- mobilized between January and March 2012. Similarly, in this financial year, the bourse is expecting to receive further boost with the listing of three more firms bringing the number to 20 trading at the market.

DSE has already received prospectus of the London-listed Richland Resources, the parent company of TanzaniteOne that seeks to offload a 20 per cent stake during a cross-listing on DSE. Mr Kitua said the bourse forecasts strong interest from investors on Richland's shares.

Also in the list would be a gas company whose name is yet to be disclosed but it is expected to issue new shares despite being listed in the London based Stock Exchange to mobilize funds for the exploration of gas in Southern Tanzania. 

Also the establishment of the Enterprise Growth Market (EGM) will have significant impact into the market operations.
Source: The Daily News, www.dailynews.co.tz, reported by Sebastian Mrindoko in Dar es Salaam
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