DSE share price up 230pc

Dar es Salaam. Investors who bought shares of the Dar es Salaam Stock Exchange (DSE) during the initial public offering (IPO) could more than triple their shareholding wealth if they sold their stakes on Friday.
The counter of the bourse which self-listed in July closed the week at Sh1,660 per share compared with Sh500 during the IPO.
DSE was also the most traded counter accounting for 48 per cent of the weekly turnover, according to a weekly report by Zan Securities.
DSE is the latest entrant which has challenged the monopoly of Tanzania Breweries Ltd (TBL) and a few other companies that have been dominating the market share for a long time.
“Recent DSE volatility has created fertile ground for traders. Prices should stabilise within the next two or three weeks to the downside,” stated the weekly report.
On weekly basis, the counter appreciated by 10.67 per cent and that was the second consecutive week of gaining.
Other top gainers for the week were, TOL Gases Ltd which appreciated by 6.67 per cent to Sh800 and the National Microfinance Bank that improved by 1.48 per cent to Sh2,750 per share.
The DSE dominance in the market share was followed by TBL at 36.17 per cent and CRDB Bank  at 9.77 per cent.
TBL was one of the top loser for last week having depreciated by 0.66 per cent to Sh13,640 per share.
The week-on-week turnover strengthened by 57 per cent to Sh3.37 billion compared with Sh2.15 billion the previous week.
Total market capitalisation increased by 0.67 per cent to Sh23.40 billion while the domestic market capitalisation increased by 0.02 per cent to Sh8.42 billion. Key benchmark indices were in the green territory. The Tanzania Share Index (TSI) capped at 4,006.43 points, up by 0.02 per cent while the All Share Index (DSEI) closed at 2,686.73 points, up by 0.67 per cent.