DSE Records Strong Festive Rally, Adding Sh350 Billion to Market Capitalisation

Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) staged a strong festive rally that added Sh350 billion to the bourse’s total market capitalisation, defying the typically quiet holiday trading period.

The market rose from Sh23.2 trillion on December 19 to Sh23.55 trillion by the close of trading on Christmas Eve, reflecting renewed investor confidence during a period that typically sees reduced activity.

The rally was underpinned by three consecutive trading sessions that generated more than Sh3.7 billion in total turnover, alongside a notable shift in investor participation between foreign and local players.

Trading opened on Monday, December 22, with a turnover of Sh1.34 billion. Foreign investors dominated the buy side, purchasing shares worth Sh434.68 million, as local investors emerged as the main sellers, accounting for 77.52 percent of total sales.

Foreign interest remained strong on Tuesday, when turnover reached Sh1.19 billion. Foreign investors accounted for Sh373.79 million on the buy side, while local selling intensified further to 99.26 percent of total sales.

The pattern shifted on Christmas Eve, when turnover stood at Sh1.18 billion and was driven entirely by domestic investors.

On the final trading day before the holiday, local investors accounted for 100 percent of purchases, effectively taking control of the market, as foreign investors moved to the sell side, offloading 34.09 percent of their holdings.

The upbeat trading was reflected in price movements across the equities market, with nine companies recording gains during the week.

Tanzania Breweries Limited led the gainers, with its share price rising by Sh160 to close at Sh8,460. CRDB Bank followed, gaining Sh90 to end the week at Sh1,420.

Other advances were recorded by Vodafone, which added Sh40, and Afriprise, which rose by Sh30. Additional support came from modest gains by Palm Beach, DCB Commercial Bank and MBP, while the cement sector also edged higher, with TPCC gaining Sh10 to close at Sh6,040.

Despite the overall positive performance, six counters ended the week lower. Shares of the DSE itself recorded the biggest decline, falling by Sh110 to close at Sh6,710, while National Microfinance Bank shed Sh50 to end the week at Sh8,340.

Other decliners included TOL, which lost Sh60, and Mucoba, which dropped Sh25, alongside marginal declines in MCB and MKCB.

Meanwhile, 13 counters closed unchanged, including key cross-listed stocks such as East African Breweries Limited (EABL), KCB Group and Jubilee Holdings.

Their stability helped provide a firm base that allowed gains in other counters to lift the overall market.

Market analysts say the performance highlights the resilience of investor appetite for Tanzanian equities during the festive season, with local investors stepping in to absorb shares sold by foreign players.

The increase in market capitalisation from Sh23.2 trillion to Sh23.55 trillion within a few trading sessions provides a positive signal for the bourse as it heads into the final week of the year, raising expectations that the momentum from the Christmas rally could extend into 2026.