Jubilee market cap down by Sh10 billion as share price dips

Friday February 7 2020

 

By Josephine Christopher @JocfineQ jchristopher@tz.nationmedia.com

Dar es Salaam. Jubilee Holdings Limited (JHL) total market capitalisation at the Dar bourse dipped by Sh10 billion on Wednesday, after the company share price fall by 1.83 percent.

The Dar es Salaam Stock Exchange (DSE) on Wednesday has shown the market cap at the JHL counter closed at Sh583.41 billion from Sh594.28 billion of the previous day. The decline in the market cap was attributed by the drop in the firm’s share price by Sh150 (1.83 percent); from Sh8, 200 on Tuesday to Sh8, 050 on Wednesday.

Jubilee is one of the major investment holding company and it underwrites life and non-life insurance risks associated with death, disability, health, property, and liability. Its products are offered to businesses, individuals, and families.

However, at the end of the business session DSE total market capitalization improved by Sh62.83 billion to Sh17.55 trillion on Wednesday from the Sh17.48 trillion received on Tuesday.

The broad market improvement was stimulated by the performance of the cross listed firms whereas most of the counters closed in green, except for Jubilee.

CRDB Bank Plc shares continue to go upward direction gaining 7.69 percent to close at Sh140 from Sh130 per share. This is being influenced by the company recent profit records which have been attracting more investors.

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East African Breweries Limited (EABL) shares gained 1.24 percent to close at Sh4, 900 from Sh4, 840 of the previous day.

At the end of the trading session on that day DSE recorded a total turnover of Sh28.41 million from 200,372 shares traded in eight deals.