DAR ES SALAAM Stock Exchange (DSE) is projected to record a positive momentum this week as the market is expected to fully factor-in bank’s results.
Some equity prices surged last week but failed to increase market turnover which plunged by almost 90 per cent to 337.95m/-.
Vertex International Securities said in its Weekly Market Review that the equities market continued with mixed performance as prices increased while volume and turnover took a hit.
“However,” Vertex said, “we think the increase in prices for some counters is a good signal going forward and we expect the market to fully factor- in the bank’s results [this] week.”
The brokerage firm and the prices increase is a good factor to “record a positive momentum”.
Twiga cement stock appreciated by 12 per cent to close off the week at 2,800/- per share and the self-listed DSE closed at 1,160/-per share gaining 5.45 per cent.
However Simba Cement lost 2.5 per cent to close at 390/- and failed to block domestic companies index- -Tanzania Share Index (TSI) from appreciating by 0.60 per cent to close at 3,533.83 points. Also Zan Securities said in its Weekly Market Wrapups that domestic investors dominated the DSE equity market last week.
“[This] is a step in the right direction to build investors’ confidence and increase participation with our browse. “We anticipate this participation trend to continue for this week,” Zan Securities said.
The All Share Index (DSEI), also, increased by 1.76 per cent to close at 1,911.57 points. Total Market capitalization was up by 1.76 per cent to 15 894tri/- and domestic market capitalization gained 0.60 per cent to close at 9 304tri/-.
Two sectorial indices closed up while one remained unchanged.
The Banks, Finance and Investment (BI) gained 0.07 per cent to close at 2,439.02 points and Industrial and Allied (IA) gained 0.99 per cent to close at 4,861.95 points, while Commercial Services (CS) remained unchanged at 2,139.33 points.
Last week TBL emerged as most dominate counter trading a block of 40,001 shares worth 200m/- and capturing 67.84 per cent of the market share.
Other counters, according to Zan Securities, that controlled the market share were the self-listed DSE at 13.44 per cent and CRDB Bank at 12.88 per cent.