Dar stock indices on right path

The Dar es Salaam Stock Exchange main market has opened the year at a positive note after its indices headed north in the first week painting a prosperous future.

The DSE all share index gain by 2.84 per cent to close the first week of trading of this year at 1919.73 points buoyed by price gain of EABL, JHL, Nation Media Group and Africa Barrick Gold shares.

Tanzania Share Index appreciated by 0.17 per cent to 2,848.25 points pushed up by National Microfinance Bank (NMB) share gain. 

Tanzania Securities said the NMB was the only local listed companies that its share price gained by 0.76 per cent to 2,640/- in the first week of this year.

The stockbrokerage firm said other companies’ shares traded at the same prices to limit the TSI to appreciate further.

On DSEI counter the index gain was pushed by JHL that climbed from 5,120/- of first trading day of this year to 5,550/- of last Friday when closed for the weekend and long public holidays.

The EABL share gained by 240/- to 5,540/-; KCB bank by 30/- to 900/-; Kenya Airways by 10/- to 250/- and Nation Media Group by 70/- to 5,810/-.

All these firms have cross-listed from Nairobi Stock Exchange (NSE). African Barrick Gold, the only cross-listed firm outside East Africa, saw its share appreciate by 3.3 per cent to 5,020/- in the first week of trading in this year.

At the close of the week, last Friday, the market closed the day with a significant increase in both turnover and activity level.

Turnover amounting to 2.5bn/- was generated in comparison to 792.77m/- recorded the previous day. Similarly, 5,220,552 shares exchanged hands compared to 2,550,708 shares transacted in the previous session.
Source: Daily News, reported from Dar es Salaam, Tanzania
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