DSE market capitalisation rises Sh260bn in 3 months

Dar es Salaam. Investors at the Dar es Salaam Stock Exchange (DSE) added some Sh263.87 billion to their listed wealth in the last three months after gains at some counters.

The wealth of the bourse, as measured by the total market capitalisation, increased from Sh15.095 trillion as of December 31, 2020 to Sh15.358 trillion as of March 31, 2021, which marked the end of the first quarter.

“This follows increases in the stock prices of some of the domestic and cross-listed companies,” DSE chief executive Moremi Marwa said in his latest quarterly update.

Some local counters which experienced share price increase include the self-listed DSE (25 percent to Sh1,100 per share) and CRDB Bank (18 percent to Sh230 per share).

On the other hand, some counters which saw decreases include the agri-business firm Jatu, which decreased by 43 percent to Sh1,680 per share and Tanga Cement (trading as Simba) which decreased by 19 percent to Sh405 per share.

“The increase in prices in the two counters added more to the total domestic market capitalization proportionately as compared to the decrease in prices on the two counters – hence the increase in market capitalization during the quarter,” noted the brief report. Shares of some 15 domestic listed companies remained unchanged in prices during the quarter under review.

According to the report, equity trading turnover was Sh23.3 billion. The other companies that led in liquidity creation were CRDB, NMB, TBL, and DSE.

Other counters with minimal trading during the quarter were Jatu, Nicol, Swissport and Vodacom.

In the bond market, the total outstanding listed government (Treasury) bonds increased by 4.77 percent from Sh12.665 trillion as of December 31, 2020 to Sh13.269 trillion as of March 31, 2021.

On the other hand, outstanding corporate bonds listed at the bourse remained the same at Sh120.1 billion as of March 31, 2021.