Dar es Salaam Stock Exchange Experiences Significant Market Downturn in Latest Trading Week
The Dar es Salaam Stock Exchange (DSE) concluded the recent trading week with a substantial decline, marking a challenging period for investors and market participants.
Equity sales plummeted by 74.57 percent, dropping from Sh36.89 billion to Sh9.38 billion. Simultaneously, the volume of shares traded decreased dramatically by 63.76 percent, falling from 21.60 million to 7.83 million shares.
Total market capitalization witnessed a 2.73 percent reduction, sliding to Sh21.99 trillion from Sh22.61 trillion. Key listings including major financial and industrial stocks suffered significant losses, with domestic market capitalization experiencing an even more pronounced 6.14 percent decline.
Top performers in the market downturn included Nico, which dropped 37.04 percent to Sh1,320, CRDB falling 20.13 percent to Sh1,270, and TPCC declining 10.46 percent to Sh5,050.
Trading activity was dominated by domestic investors, who represented 86.39 percent of market transactions, while foreign investors accounted for merely 13.61 percent.
The fixed income segment showed more resilience, with the secondary bond market recording 318 transactions totaling Sh257.52 billion. The 15-Year Treasury bond auction demonstrated strong investor interest, attracting 101 bids and successful collections of Sh244.31 billion.
Market analysts anticipate a potential slight improvement in performance as the third quarter progresses, with expectations of seasonal adjustments and emerging investment opportunities potentially driving market recovery.
