The Dar es Salaam Stock Exchange All Share Index (DSEI) opened the week at 2,152.78 points, an increase of 9.07 points on Tuesday close, after an appreciation of share prices among five counters, led by three cross listed counters.

The  daily market report shows top gainers were NMG counter, after its share price increased by 8.06 points to 335/-, followed by Jubilee Holdings Limited (JHI), which its share price appreciated by 4.96 percent after closing at 3,600/-.

Other gainers according to the report were DCB Bank, which its share price closed at 160/-, an increase of 3.23 percent, followed by East African Breweries Limited (EABL) counter which gained by 2.97 percent after closing at 3,470/- and Afriprise counter, which its share closed at 255/- an increase by 2 percent.

The gaining of DCB and Afriprise also stimulated the movement of Banks, Finance and Investment Index (BI), after slightly expanding to 5,676.39, an increase of 1.52 percent.

Other indices including Tanzania Share Index (TSI) and Industrial &Allied Index (AI) declined during the opening of the week, due to decrease of share prices on Swissport and Tanzania Portland Cement Company (TPCC) counters.

The report shows Swissport share price closed the day at 1,100/-, 8.33 percent lower than the end of last week while TPCC share price declined by 2.7 percent, after closing the trading session at 3,600/-.

A total of turnover of 362.99m/- was recorded during the opening day of the week, following the transactions of 497,433 shares traded in 697 deals with local investors dominance in all activities.

According to the report, foreign investors appeared on the market by purchasing shares from local investors valued 5.42m/-, equivalent to 1.49 percent of total value of shares bought.

Top movers were CRDB counter, which recorded the transactions of 463,058 shares valued 296.5m/-, traded at a price ranging from 630/- to 650/- per share in 517 deals, followed by TPCC counter, which recorded the transactions of 12,404 shares valued 44.7m/-, traded at a price ranging from 3,600/- to 3,700/- per share in 21 deals.

Other active counters during the day were Afriprise counter, which recorded the transaction of 12,078 shares valued 3m/-, traded at a price ranging from 250/- to 270/- per share in 54 deals,  self-listed DSE counter, which traded 2,819 shares in 25 deals and TCCL counter, which traded 2,356 shares valued 4m/- in seven deals.

Analysts say, the outlook for Tanzania's equity market for November and December 2024 remains cautiously optimistic. 

They say the market is supported by strong fundamentals in key sectors, such as banking, telecoms, and consumer goods. 

Key stocks, including NMB, CRDB, and Tanzania Cigarette Company (TCC), continue to perform well, bolstered by growing profitability and favorable dividend payments. 

“For the final months of 2024, investor sentiment is expected to remain positive, particularly driven by a stable macroeconomic environment,” says an analyst. 

“This is supported by Tanzania's ongoing infrastructure development and accommodative monetary policies from the Bank of Tanzania (BoT), which have encouraged credit growth and private sector investment.”