DSE TURNOVER GROWS RAPIDLY UP TO TEN TIMES.
Dar Es Salaam Stock Exchange (DSE), equities market turnover, has pitched ten times in a single week as foreign investors’ activity increased due to ongoing trade talks between the US and China. The Stock exchange turnover rose to 7.5 billion in a week ending last Friday against 761.74 million in the week before, Zan Securities Chief Executive Officer Raphael Masumbuko said the week saw increased activities from foreign investors’.
“We attribute this to the positive development in ongoing trade talks between the US and China,” Mr. Masumbuko said in Weekly Market Wrap-Ups report. He said over the weekend that the Dar exchange future look bright since the China and US talks are likely to bear positive outcome. “We expect further improvement as the US President might tone down his stance about a trade dispute with China owing to his recent conversation with executives of three US biggest banks,” Mr. Masumbuko said.
The report showed that TBL was a top market mover with 98.03 per cent of total market turnover, followed by CRDB bank with 1.08 per cent. Despite the surging of market turnover, the stock prices almost remained unchanged thus holding prices at the same level in comparison with the previous week.
The Total market capitalization decreased by 1.65 per cent to 19.15 trillion and Domestic market capitalization declined by 0.12 per cent to 9.06 trillion. The market cap dropping pulled down Tanzania Share Index (TSI), to close at 3,291.83 points or 0.12 per cent down. While, All Share Index (DSEI), decreased by 1.65 per cent to close at 1,943.43 points.