- In the next few days, commercial banks will be releasing their financial statements for the fourth quarter of last year, which will also cover the entire 2022 calendar year.
Dar es Salaam. Analysts remain optimistic that the release of financial statements for some listed entities will stimulate trading activities at the Dar es Salaam Stock Exchange (DSE) despite the ongoing negative price movements at a number of counters.
In the next few days, commercial banks will be releasing their financial statements for the fourth quarter of last year, which will also cover the entire 2022 calendar year.
This, analysts say, will propel price gains at commercial bank counters as expectations are high that they will report attractive profit increases.
“The market continued with last week’s negative momentum as prices posted further declines. Surprisingly, volume and turnover remained resilient, which gives us the confidence to expect recovery next week as fourth-quarter results continue to come out,” said the capital markets manager at Vertex International Securities Limited, Mr Ahmed Nganya.
Last week, CRDB Bank Plc was the top active counter for a third week in a row after dominating over 89 percent of last week’s trading.
The total turnover rose by 10 percent to Sh1.83 billion last week. NMB Bank Plc accounted for 3.69 percent of the total trading, while Tanga Cement Company Limited (TCCL) held a 2.09 percent slice.
Last week, no counter recorded a price gain.
Nicol lost by 7.69 percent to close the week at Sh300, while TICL and TOL lost by 6.67 percent and 5.8 percent respectively.
With falling prices, the All Shares Index (DSEI), which tracks the market value of both domestically listed and cross-listed equities at the DSE, decreased by 0.91 percent to close at 1,877.05 points. The Tanzania Shares Index (TSI), which tracks the value of domestically listed equities only, decreased by 0.49 percent to close at 3,879.40 points.