Three counters push domestic market cap up by Sh121 billion

Three counters push domestic market cap up by Sh121 billion

Dar es Salaam. The market value of the domestic firms listed on the Dar es Salaam Stock Exchange (DSE) increased by Sh121 billion last week, thanks to a significant price increase on three domestic counters.

The bourse’s total domestic market capitalisation improved to Sh10.843 trillion last week from Sh10.722 trillion previously, according to analysis by a brokerage firm Vertex International Securities Ltd.

Swissport stock price went up by 12.7 percent to close at Sh1,420 per share, followed by Tanga Cement Company Limited (TCCL) which gained by 6.78 percent to Sh1,260 while CRDB Bank Plc gained by 3.3 percent to Sh470.

“There were no losing domestic counters this week,” Vertex analyses.

Vertex’s capital markets manager Mr Ahmed Nganya said; “We forecast a positive performance next week as we expect this week’s positive price momentum to continue and therefore provide a boost for both volume and turnover.”

The market weekly turnover dropped by 48.5 percent to Sh675.29 million last week from Sh1.31 billion that was recorded in the previous week.

CRDB accounted for 53.32 percent of the total market turnover followed by NMB with 21.7 percent and TCCL with 11.75 percent.

At the end of the trading session on Friday, the Tanzania Shares Index (TSI) which tracks the performance of the local firms, was up by 1.13 percent to close at 4, 102.15 points.

The total market capitalization was up by 2.15 percent to close at Sh15.77 trillion.

In the secondary bond market, the bourse recorded 25 deals from both treasury and corporate bonds with a total turnover of Sh46.36 billion.

The 25-year Treasury bond recorded an average yield of 12.91 percent with an average price of 99.43 percent, followed by the 20-year Treasury bonds with an average yield of 13.45 percent and price of 114.77 percent.

The 15-year Treasury bond recorded an average yield of 10.92 percent and the average cost of 118.59 percent while the 7-year Treasury bond recorded an average yield of 7.98 percent and the average price of 105.67 percent.

Original Media Source

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