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Big firms continue to shine at DSE

Big firms continue to shine at DSE

The DSE Chief Executive Officer, Mr Moremi Marwa, said in Dar es Salaam that the period under review saw the market capitalisation, the value of all listed stocks, rising by 16 per cent while domestic listed companies rose by 25 per cent to 18.9tri/- and 7.49tri/-respectively.

This was largely contributed by share price appreciation in key manufacturing, banking and services sectors. He said large corporates, such as NMB, TCC, TBL, Tanga Cement and CRDB Bank counters, recorded higher growth than small and medium sized ones, except TOL gases that recorded a significant growth of 57 per cent in the past six months.

He said NMB recorded a growth of 52 per cent, followed by TCC 30 per cent, TBL 20 per cent, Simba Cement 19 per cent and CRDB 14 per cent.

Twiga, DCB and Swissport recorded negative growth of 13 per cent, two per cent and 2 per cent respectively while TATEPA, Precision Air and Maendeleo Commercial Bank recorded zero growth.

Mr Marwa said the trajectory of the two main indices, the DSEI that tracks all 18 listed equities and TSI tracking domestic listed companies grew by 16 per cent and 25 per cent respectively.

This effectively means that an investor whose portfolio included all 12 domestic listed companies got more return that those which invested in all listed companies, including the 6 cross listed companies.

Over the past one year, the DSE market capitalisation has growth by more than 120 per cent on the back drop of a more proactive market engagement agenda that has been implemented by the Exchange.

Efforts put by DSE included the actively engagement of issuers and investors through public awareness and public education, pro-active efforts for the Exchange to become more efficient that reducing the settlement cycle.

Also DSE has extended trading hours, migrating into the Wide Area Network for its trading system and the securities depository system.

Author: DAILY NEWS Reporter

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