Investors are optimistic about the performance of the Dar es Salaam Stock Exchange (DSE) equity market this week, with analysts projecting strong results based on last week's positive performance and increased foreign investor activity.
Financial firms are expected to continue outperforming and surpassing expectations, leading to a surge in the market. The market saw a 264% increase to 2.48 billion Tanzanian shillings and attracted a foreign net inflow of 46.06 million Tanzanian shillings.
Despite local investors dominating the market, foreign sales have been absorbed since the beginning of last year. Six counters were on the green last week, and no counter saw a red line for the week. The leading gainer on DSE year-to-date was CRDB, which saw a surge of 96%, with a Price Earnings (PE) ratio of 4.07x. NICO, NMB, DSE, and DCB also saw increases in counter prices. The Tanzania Share Index (TSI) gained 1.55% to 4,176.27 points during the week and 7.4% since the beginning of the year, while the All Share Index (DSEI) was down 0.19% to 1,869.32 points and 0.67% year-to-date, attributed to the dropping Kenyan market.
Banks, Finance and Investment (BI) went up by 5.22%, Industrial and allied (IA) closed at 5,079.67 points, and Commercial services (CS) closed at 2,161.21 points, seeing no change.