Bank Stocks Rise Amid Decline in Market Turnover and Capitalization in Week 34 of 2024

During the trading week ending on Friday, August 23, 2024, the Dar es Salaam Stock Exchange (DSE) experienced notable changes in stock prices, turnover, market capitalization, bond market activity, and index performance.

The trading week saw mixed performance at the DSE, with significant price gains in MBP, DCB, and KCB stocks, while overall market turnover, volume, and capitalization experienced declines. The bond market also saw reduced activity, and most indexes lost value, indicating a cautious trading environment.

Stock Price Movements

• Top Gainers:
  • MBP: The stock price rose by 9.84%, increasing from TZS 305 to TZS 335.
  • DCB: The stock price increased by 8.33%, moving from TZS 120 to TZS 130.
  • KCB: The stock price went up by 8.20%, from TZS 610 to TZS 660.
• Biggest Loser:
  • JHL: The stock price declined by 6.47%, dropping from TZS 3,400 to TZS 3,180.

Turnover and Volume

• Turnover:
  • During Week 34 of 2024, the total turnover at DSE was TZS 3.087 billion, which is a decrease of -51.55% compared to the previous week's turnover of TZS 6.372 billion.
• Volume:
  • The volume of shares traded was 3,520,771 shares, representing a -4.28% decrease from the previous week's volume of 3,678,458 shares.

Market Capitalization

• Total Market Capitalization:
  • The total market capitalization at the end of Week 34 was TZS 17,365.05 billion, reflecting a slight decrease of -0.01% from the previous week’s TZS 17,368.26 billion.
• Domestic Market Capitalization:
  • The domestic market capitalization was TZS 12,302.87 billion, which is a -0.15% decrease compared to the previous week's figure of TZS 12,321.92 billion.

Bond Market

• Bond Transactions:
  • The bond market recorded transactions worth TZS 30.16 billion in Week 34, marking a -11.26% decrease from the previous week’s transactions of TZS 33.99 billion.

Index Performance

• All Share Index (DSEI):
  • The DSEI closed at 2,080.57, a slight decrease of -0.02% from the previous week’s closing of 2,080.96.
• Tanzania Share Index (TSI):
  • The TSI dropped by -0.15%, closing at 4,644.74 compared to 4,651.93 the previous week.
• Industrial & Allied Index (IA):
  • This index was one of the few that saw an increase, rising by 0.06% to 5,072.27 from 5,069.10.
• Banks, Finance & Investment Index (BI):
  • The BI index fell by -0.48%, closing at 5,835.22 compared to 5,863.55 the previous week.
• Commercial Services Index (CS):
  • The CS index remained unchanged at 2,134.27.

Summary of Stock Performances

• AFRIPRISE (formerly TICL): No change, remained at TZS 230.
• CRDB: Decreased by -1.47%, from TZS 680 to TZS 670.
• DSE: No change, remained at TZS 2,460.
• EABL: Decreased by -4.79%, from TZS 3,130 to TZS 2,980.
• MKCB: Increased by 3.70%, from TZS 540 to TZS 560.
• NICO: Increased by 2.53%, from TZS 790 to TZS 810.
• NMG: Increased by 3.33%, from TZS 300 to TZS 310.
• TPCC: Increased by 0.52%, from TZS 3,820 to TZS 3,840.