DSE market cap rises by Sh275 billion

A screen displays trading at the DSE. The bourse recovered last week after consecutive fall in the past two weeks. PHOTO | FILE
Dar es Salaam. Price gains at Tanzania Portland Cement Public Limited Company (TPCC or TWIGA) and the self-listed DSE sent the market capitalisation at the Dar es Salaam Stock Exchange’s (DSE) up by Sh275.23 billion in one week, market reports show.
The Zan Securities Limited’s weekly market wrap-ups and DSE reports indicate that total market capitalization rose by 1.76 percent, to Sh15.89 trillion, last week compared with Sh15.61 trillion in the week that ended on April 30, 2021.
TWIGA counter appreciated by 12 percent - to close the week at Sh2,800 per share - while the DSE Plc closed at Sh1,160 per share, gaining 5.45 percent.
The domestic market capitalization gained by 0.60 percent to close at Sh9.3 trillion. However, due to the absence of block trading during the week, the total turnover and volume of shares traded dropped compared to the preceding week.
Total equity turnover was Sh337.95 million: 89.3 percent lower than the Sh3.15 billion recorded in the preceding week.
TBL emerged as this week’s most dominant counter, having traded a block of 40,001 shares worth Sh200 million - and, therefore, capturing 67.84 percent of the total market share.
Other counters that controlled the market were the self- listed DSE at 13.44 percent and CRDB at 12.88 percent.
“Domestic investors dominated the DSE equity market this week, which is a step in the right direction to build investors’ confidence and increase participation at our bourse,” said the Zan Securities’ chief executive Mr Raphael Masumbuko.
He said analysts anticipate that the participation trend of local investors will continue for this upcoming week.