The Dar es Salaam Stock Exchange (DSE) experienced a marginal improvement in trading activity during the week ended October 2, with total turnover increasing by 1.47 per cent to 27.87bn/-. This growth was largely driven by trading in relatively higher-priced counters, particularly in the banking sector. Despite the increase in turnover, the market recorded a decline in the volume of shares traded, which fell by 8.68 per cent to 11.67 million shares.
CRDB was the dominant contributor to market turnover, accounting for 56.69 per cent of total activity with a turnover of approximately 15.80bn/-. NMB followed with a 27.55 per cent contribution and a turnover of 7.68bn/-, while TCC accounted for 6.75 per cent with 1.88bn/-. The combined contribution of CRDB and NMB reached 84.24 per cent of total market turnover, highlighting the significant influence of these two banking stocks on market activity.
The market's performance across individual counters was mixed, with some stocks recording significant gains. NMG emerged as the strongest gainer, rising 8.62 per cent to 315/-, followed by NICO, which gained 4.43 per cent to 3,770/-. TCCL advanced 3.67 per cent to 3,950/-, while the DSE share increased by 2.42 per cent to 6,350/-. However, not all stocks performed well, with MBP recording the largest decline among the leading losers, falling 7.44 per cent to 1,990/-.
The decline in some stocks, including NMB, was notable given their substantial contribution to weekly turnover. NMB's drop came on heavy volume, indicating profit-taking or repositioning rather than thin-market noise. At the broader market level, total market capitalisation declined by 1.08 per cent to 40.38tri/-, from 40.82tri/- in the previous week. Domestic market capitalisation also fell by 1.57 per cent to 27.88tri/-, compared with 28.33tri/- previously.
In other news, I&M Bank (T) Limited's Hatua Bond received a 806.92 per cent subscription rate. The public offer, which ran from August 3 to September 4, targeted an initial raise of 20bn/- but drew bids totalling 161.38bn/-. The bond carries an annual coupon rate of 13 per cent payable quarterly, maturing on September 21, 2031, and is scheduled to list on the DSE on October 15.
National Investments PLC (NICOL) has resolved to pay a dividend of 90/- per share for the financial year ended December 31, 2025, subject to formal shareholder ratification. The announcement was made during the company's 12th Annual General Meeting, which was held on September 5. The recommended payout reflects the company's performance over the financial year.
The Central Bank of Tanzania also held an auction for the re-opening of the 15-Year Treasury bond, offering 186.540bn/- to investors. The auction was oversubscribed, receiving bids totalling 494.160bn/-, with a subscription rate of 264.91 per cent. The bond's minimum successful price increased notably, rising from 109.2189 in the previous auction to 111.1079 in the current auction. Secondary market bond turnover on the DSE retreated during the trading week, recording a total traded value of 82.68bn/- executed across 78 deals.
Key points
- - CRDB and NMB dominated market activity, accounting for 84.24 per cent of total market turnover. - The market's performance across individual counters was mixed, with NMG and NICO recording significant gains. - The Central Bank of Tanzania held an auction for the re-opening of the 15-Year Treasury bond, which was oversubscribed.
