DSE market capitalisation gains by Sh0.5bn in a week

Dar es Salaam. The Dar es Salaam Stock Exchange’s (DSE) total market capitalisation went up by Sh518.2 billion in one week, according to reports.

The Zan Securities weekly market wrap-ups and DSE reports indicate that total market capitalisation rose by 2.73 per cent to Sh19.48 trillion last week compared with Sh18.96 trillion on the week that ended on August 02.

The improvement was a result of increased share prices among cross-listed companies, which include Acacia and EABL.

However, the reports show that the domestic market capitalisation mark-timed at Sh9.08 trillion because there were no changes in prices among local firms.

The equities market turnover plunged by 33.8 per cent, to Sh761.74 million against a turnover of Sh1.15 billion in the period under review.

The CRDB Bank counter continued to dominate the market, this time round with 98.10 per cent of total market turnover, followed by Tanzania Portland Cement Company (TPCC) with 1.22 per cent.

Other active counters were DSE Plc and Nicol.

The total volume of shares sold also decreased, doing so by 33.89 per cent – to 7,502,117 shares – compared with 11,348,087 shares the previous week.

Meanwhile, the key benchmark indices closed as follows: Tanzania Share Index (TSI) – which measures the performance of local listed equities – closed at 3,295.90 points, like the previous week.

The All Share Index (DSEI) increased by 2.73 per cent to close at 1,975.94 points from 1,923.37 points in the period under review.

On the future outlook, Zan Securities wrap-ups noted that “the equity market turnover plunged this week as foreign investors were startled with the China action of letting its currency slip past seven against the US dollar – and President Trump naming China ‘the currency manipulator.’”

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