Login to your account

Username *
Password *
Remember Me

Dar es Salaam Stock Exchange (DSE) bullish performance is anticipated to continue in the coming weeks as both local and foreign investors seem to pay close attention.

 

The last week bullish performance was dominated by domestic investors by 76 per cent and foreign investors by 24 per cent.

 

"This shows that both investors are paying close attention to our exchange and capturing investment opportunities," Zan Securities said in its weekly Market Wrap-Ups report adding:

"We anticipate this active trend to continue this coming week."

 

The DSE equity market ended the week with a bullish performance of 6.0bn/- coming from three pre-arranged block trades, which was up by almost five times compared to the previous week.

 

Vertex International Securities said in its weekly market review report that NMB Bank counter drove the market last week as it traded heavily in blocks.

 

"Surprisingly", Vertex said, "this drive came from local investors instead of foreigners.

 

"We expect this change to drive the momentum this week as companies continue to release impressive interim results defying the negative impact of the coronavirus pandemic".

 

NMB counter traded a block of 2,581,884 shares in two transactions and captured 73 percent of this week’s market share.

 

TCC was second after trading a block of 120,000 shares at 9.99 percent and lastly, the self-listed DSE traded 489,450 shares at 9.14 per cent.

 

Orbit Securities said in its Weekly Market Synopsis that TCC and DSE also saw prearranged block transactions. All the activities on NMB and TCC counters went through prearranged block transactions, while 98 per cent of the activities on the DSE counter were through the prearranged blocks window.

 

“Collectively,” Orbit said, “prearranged blocks accounted for 92 per cent of the total market activities during the week under review”.

 

NMB saw two block transactions last Thursday and Friday, moving a total of 2.58million shares at a price of 1,700/- against the board price of 2,340/-.   

 

Price movement was recorded in one of the domestic traded equity, DCB Bank losing 8.33 per cent of its value to end the week at 220/- per share.

 

Total market capitalization increased by 0.22 per cent to 16.65tri/- while domestic market capitalization went down by 0.01 per cent to close at 9.587tri/-.

 

Banks, Finance and Investment (BI) lost 0.10per cent to close at 2,537.83 points due to the decline of DCB. Industrial and Allied (IA) gained 0.01per cent to close at 5,039.98 and Commercial Services (CS) remained unchanged at 2,139.33 points.

 

Dailynews TZ