Three domestic counters experienced significant price increases, leading to a rise in the market value of domestic firms listed on the Dar es Salaam Stock Exchange (DSE) by Tsh.121 billion Last week, this resulted in an improvement in the bourse's total domestic market capitalization from Tsh.10.722 trillion to Tsh.10.843 trillion, according to Vertex International Securities Ltd. The Swissport stock price saw a 12.7 percent increase in stock price, closing at Tsh.1,420 per share, followed by Tanga Cement Company Limited (TCCL) with a gain of 6.78 percent to Tsh.1,260, and CRDB Bank Plc with a gain of 3.3 percent to Tsh.470. According to Vertex, there were no losing domestic counters last week.
Ahmed Nganya, Vertex's capital markets manager, expects a positive performance next week as the positive price momentum from last week is anticipated to continue, boosting both volume and turnover. While the market weekly turnover decreased by 48.5 percent to Tsh.675.29 million, CRDB accounted for 53.32 percent of the total market turnover, followed by NMB at 21.7 percent and TCCL at 11.75 percent.
On Friday, the Tanzania shares Index (TSI), which tracks the performance of local firms, was up by 1.13 percent to close at 4,102.15 points, and the total market capitalization was up by 2.15 percent to close at Tsh.15.77 trillion. In the secondary bond market, the bourse recorded 25 deals from both treasury and corporate bonds with a total turnover of Tsh.46.36 billion. The 25-year Treasury bond recorded an average yield of 12.91 percent with an average price of 99.43 percent, followed by the 20-year Treasury bonds with an average yield of 13.45 percent and price of 114.77 percent. The 15-year Treasury bond recorded an average yield of 10.92 percent and an average cost of 118.59 percent, while the 7-year Treasury bond recorded an average yield of 7.98 percent and an average price of 105.67 percent.