DSE on posts outstanding performance in Q1

Domestic market capitalization and indices covering 14 local listed companies have increased by 3 per cent in the first quarter 2015 compared to 10 per cent loss in the previous quarter ended December 2014.

The Dar es Salaam Stock Exchange (DSE) Chief Executive Officer, Mr Moremi Marwa (pictured), said this in Dar es Salaam at the weekend.

He noted, “This is an outstanding performance the market has registered in the first quarter this year, which is the green light for the near future,” he noted.

He said market capitalization and indices which covers all 21 listed companies also increased by 3 per cent during the period under review.

Similarly, the year on year growth in domestic market capitalization and indices was at 64 per cent and 36 per cent for the total market capitalization and indices.

The domestic market capitalization increased to 10.2tri/- in March 2015 from 9.9tri/- as of end of December last year. The total market capitalization also increased to 22.7tri/- as of March 2015 from 22.3tri/- as at the end of December last year.

He said the relatively better performance of the total market indices and total market capitalization was a result of good fundamental performance of the underlying companies, relatively good dividend payments and positive sentiments and outlook by investors.

“The DSE 2015 first quarter has been very successful. Once again for the seventh consecutive quarters, DSE was ranked as one of the Exchanges in Africa that delivers high returns to investors on its listed stocks,” he said.

He added, “Wealth enhancement as measured by increase in market investment value and liquidity levels, as measured by market turnover, or volume of transactions, increased at relatively significant levels.”

According to the DSE boss, the bourse’s turnover increased by 93 per cent to 278bn/- of the first quarter 2015 compared to 144bn/- of the previous quarter and only 42bn/- of the corresponding period last year.
Source: Daily News, reported from Dar es Salaam, Tanzania
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