Equity market starts week strong at Dar bourse

Dar es Salaam. Trading activities at the Dar es Salaam Stock Exchange (DSE) improved in the opening day of the week after the equity market capitalisation surged up by over Sh35 billion, thanks to share increase to two cross-listed firms.

Dar bourse market report on Monday indicated that the total market capitalisation closed at Sh17.644 trillion from Sh17.6 trillion recorded on Friday last week.

The increase was attributed to share increase for currently most profitable lenders—CRDB Bank Plc and the Nairobi based media giant Nation Media Group (NMG).

CRDB share price gained 8.33 percent to close at Sh195. The firm market cap closed at Sh39.18 billion up from Sh470.13 billion last week to Sh509.31 billion on Monday.

NMG share prices also increased by 2.56 percent to close at Sh800 from Sh780 of the previous week. The firm capital surged to Sh150.83 billion from Sh147.03 billion.

However, Jubilee Holdings Limited share prices lost Sh100 closing at Sh8, 100 from Sh8, 200 of the previous auction day. JHL market cap closed down to Sh587.03 billion.

Another positive indicator at the bourse on Monday was the participation of the local investors which was at a higher note for both selling and buying sides.

Locals sold and bought all the shares as DSE record a turnover of Sh79.1 million after trading 404, 844 shares in 23 deals.

CRDB was again a top market mover with Sh78.9 million trading 404, 644 shares at a weighted average price of Sh195 per share in 22 deals.

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