DSE posts modest gains to reach record high

The Dar es Salaam Stock Exchange (DSE) indices continued with modest gains in the week ending last Friday, pushed mainly by banking segment index.

The Tanzania Securities weekly report indicates both DSE All Share Index (DSEI) and the Tanzania Share Index (TSI). 

The DSEI closed 0.42 per cent at the end of Friday higher at 1,512.14 points while the TSI ended the week at 1,542.56 points after rallying by 1.78 per cent in the week.

The Head of Tanzania Securities Research and Bonds Trading, Ms Upendo Lyatuu, said they expected the equities market to continue experiencing enthusiasm as liquidity improves in the economy.

“We expect more investment flow into the bourse to take advantage of the strengthening fundamentals in the economy and the market,” Ms Lyatuu said in the report.

She added: “We expect to see increased activity in the money market as more investors continue to show interest in government bonds and treasury bills.” 

The analysts said further that in the next few weeks more listed companies will be reporting their last year’s second half results which might lead to initiation of speculative activities in the industrial segment.

The banking segment Index settled 1,296.24 points or 4.87 per cent stronger than in the previous week due to gains made on the NMB counter after gaining 5.0 per cent. Actual, NMB share price appreciated 12.5 per cent since the year began to last Friday to 1,260/- from 1,129/-.

The banking segment closed positively during the week on the backdrop of a 56 per cent of the total market activity and 11 per cent of the turnover transacted during the week. Though, the report shows, there were minimal activities in the DCB Commercial Bank counter during the week.

The bank moved only 1,600 shares at 620/- per share. The Industrial and Allied Index strengthened to 1,842.89 points after climbing up by 0.48 per cent buoyed by TBL and TCC counters that gained 20/- and 40/- to 3,100/- and 5,240/- per share respectively.
Source: The Daily News, www.dailynews.co.tz, reported by Abdue Elinaza reported from Daily News
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