Dar es Salaam Stock Exchange (DSE) has posted a mixed movement where domestic and crosslisted stocks split between green and red. Tanzania Share Index (TSI) gained by 0.26 point following a 0.007per cent gain on the domestic market capitalisation.
The TSI and domestic market cap closed the week at 3,640.38 points and 9.588tri/- respectively for a week ended last Friday.
On the other hand, the All Share Index (DSEI) dropped by 0.87 points to close the week at 1,997.55 points, associated with a 0.04 per cent decline of the total market capitalisation to 16.613tri/- Orbit Securities said in its Weekly Market Synopsis that last week was the day for mixed reaction on share prices as the local stock went north while cross-listed stick to green while others went south.
"Another week of mixed movements on the major stock market indices on the DSE as only one domestic counter registered a price movement while cross-listed counters were equally split between green and red," Orbit report said.
During the week, NICOL was the only counter that saw a price movement during the week as the counter’s price moved up 4.17per cent to close the week at 250/-.
"NICOL has been on a steady gradual climb and has already jumped 35.1per cent since the beginning of the year," Orbit said adding: "NICOL is riding on the back of the performance of NMB which makes up more than 90per cent of NICOL’s holdings".
For cross-listed, EABL and Jubilee Holdings (JHL) went down by 1.58ler cent and 9.62 per cent respectively.
The price dropping of the EABL and JHL pulled down the DSEI and neutralize the price climb on KCB Bank and National Media Group (NMG) which appreciated by 3.06 per cent and 4.95 per cent respectively.
Zan Securities said in its Weekly Market Wrap-Ups that CRDB emerged as this week’s top performer, capturing 94.48 per cent of the market share, thanks to a pre-arranged block trade of 3,000,000 shares.
Twiga cement counter came second at 2.56 per cent.
"In the previous week, NMB Bank led the market share but [last] week, its counterparts CRDB dominated the market share after posting a bullish performance from the high demand of the counter. "We anticipate these two counters will continue to trade high volumes on our exchange," Zan said.Vertex International Securities said Ty the equities market slowed down in performance last week as turnover and volume declined."Increase in foreign investors’ participation could not yield positive results […]