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JATU, agri-industrial based start-up, bull cycle continues after recording a 8.6 per cent surge in a week ending last Friday.

 

The start-up firm, listed late last November, nose-dive early last month to less than 1,000/- but regained its tempo and rally to 2,020/- at the closing of business last Friday.

 

Zan Securities Chief Executive Officer, Raphael Masumbuko projected Jatu bullish trend to continue this week.

 

"Jatu's bull cycle to continue," Mr Masumbuko said in Zan's Weekly Market Wrap-ups issued over the weekend.

The CEO further said apart from Jatu rallying last week also, CRDB Bank and Dar es Salaam Stock Exchange (DSE) share appreciated to echo the firm's prediction of prices surging.

 

"The domestic equity market echoed our last week sentiment where we expected an improvement in performance. Turnover, volume and prices surged," Mr Masumbuko said.

 

He added: "We expect more improvement next week as we anticipate an increase in block trades...".

 

CRDB and DSE climbed 2.275 per cent and 3.85 per cent to close at 225/- and 1,080/- respectively.

 

However, Simba Cement was the only losing counter last week recording 10 per cent decrease to close at 405/-. Nevertheless, the equities market weekly turnover surged by 5.36 per cent to 2.75bn/- from 2.61bn/-.

 

TBL, country's largest brewer, continued to top the market, albeit by small margins recording 51.36 per cent of total turnover followed by CRDB with 41.10 per cent.

 

The share prices surging of the three counters, Jatu, CRDB and DSE assisted the Tanzania Share Index (TSI) closed at 3,513.18 points, up by 0.12 per cent.

 

However, All Share Index (DSEI) decreased by 0.12 per cent to close at 1,841.94 points affected by cross-listed firms price dropping. On the other hand, sectorial indices closed the week at mixed reactions. Industrial and Allied Index (IA) closed at 4,816.01 points, 0.05 per cent down.

 

While Bank, Finance and Investment Index closed at 2,435.97, up by 0.73 per cent and Commercial Services Index closed at 2,139.33 points like the week before.