Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) market capitalisation rose by Sh300 billion last week, thanks to a splendid show of cross-listed firms as investors in the neighboring Kenya display a bullish outlook for the performance of Nation Media Group (NMG). The market capitalisation reached Sh18.3 trillion last week from Sh17.9 trillion.
The price per share of NMG - which is the parent company for Mwananchi Communications Limited (MCL), publishers of Tanzania’s leading newspapers, The Citizen, Mwananchi and Mwanaspoti – rose by 11.86 per cent during the week ending August 4. Similarly, EABL and KCB also rose by 2.51 and 2.35 per cent respectively.
“This means that investors are confident that the companies are stable and will yield them lucratively going forward,” said Zan Securities Limited chief officer Raphael Masumbuko.
The week-on-week turnover at the Dar es Salaam Stock Exchange (DSE) fell by 68 per cent to Sh4 billion during the week ending Friday August 4.
It stood at 12.5 billion a week before, according to DSE.
The decline resulted from a drop in the number of transacted shares from 46 million to 600,000.