The Dar es Salaam Stock Exchange experienced a significant decline in equity turnover during the week, with a plunge of 48.22% to TZS 27.47 billion. This decline was accompanied by a decrease in volume and deals, with 12,778,561 shares changing hands across 17,855 deals. This represents a 48.05% decrease compared to the previous week's 24,596,396 shares. The decline in equity turnover was led by a decrease in trading activity across most counters.
NMB led all counters by volume with 3,736,667 shares traded, while CRDB dominated by turnover, generating TZS 9.23 billion. CRDB, NMB, and VODA have consistently featured among the top five turnover counters in recent weeks. The top performers of the week were led by MUCOBA, which rose by 11.11%, followed by AFRIPRISE at 5.41% and VODA at 4.92%. On the losing side, DCB retreated the most sharply at 5.62%, with MCB slipping 3.85% and NMG declining 3.33%.
The market capitalization of the exchange closed the week at TZS 40,815.12 billion, representing a 1.74% increase compared to the previous week's TZS 40,118.89 billion. The domestic market capitalization settled at TZS 28,328.56 billion, a 2.49% change compared to the previous week. ETF market capitalization reached TZS 240.67 billion, reflecting a 2.31% gain over the prior week. The All Share Index (DSEI) gained 1.74%, while the Tanzania Share Index (TSI) advanced 2.49%.
The Commercial Services index registered the largest move of the week, rising by 4.60%. The Industrial & Allied (IA) sector slipped 1.32%, while the Banks, Finance & Investment (BI) sector rose 3.44%. The Commercial Services index has now closed higher for three consecutive weeks. MBP and VODA have posted gains for at least three consecutive weeks, indicating sustained buying interest in both counters.
Local investors accounted for 99.97% of buying and 83.13% of selling, while foreign investors accounted for 0.03% and 16.87% respectively. This resulted in a net foreign selling position of USD 1,749,075 for the week, extending a four-week streak of foreign net selling on the exchange. ETF trading across the two listed funds generated combined turnover of TZS 7.33 billion on volume of 5,276,508 units, a 460.23% increase compared to the previous week.
Bond turnover totaled TZS 118.59 billion across 129 deals, representing a 13.97% increase compared to the previous week's TZS 104.05 billion. The yield curve adopted a steepening shape, with the short end falling sharply. The 5-year yield dropped 706.5 basis points, while the long end eased more modestly, with the 25-year yield declining 175.0 basis points. However, the 15-year tenor bucked the trend, rising 217.2 basis points to settle at 11.9552%.
The Dar es Salaam Stock Exchange's performance during the week was marked by a decline in equity turnover and a mixed performance across sectors. While some counters experienced significant gains, others recorded losses. The exchange's market capitalization increased, driven by gains in the Commercial Services sector. The performance of the exchange is expected to be influenced by various factors, including economic trends and investor sentiment.
Key points
- Equity turnover on the Dar es Salaam Stock Exchange plunged 48.22% to TZS 27.47 billion during the week.
- MUCOBA emerged as the top gainer of the week, rising by 11.11%.
- The Commercial Services index registered the largest move of the week, rising by 4.60%.
