The Dar es Salaam Stock Exchange (DSE) share indices opened the week in mixed trends, as only DSE all share Share Index (DSEI) gained due to increased share prices among three cross listed and one locally listed counters, while others including TSI and BI declined.

The market report shows the DSEI gained by 11.51 points after closing at 2,122.20 points on Monday, due to an increase of East Breweries Limited (EABL), Jubilee Holdings Limited (JHL), KCB and NICO share prices.

Highest increase of share price was recorded on NICO counter after closing 4.23 percent high at 740/-, followed by EABL which gained by 3.41 percent after closing at 3,340/-, JHL by 1.8 percent to 3,400/- and KCB counter which its share went up by 1.43 percent to 710/-.

According to the daily market report, the Tanzania Share Index (TSI) declined by 9.44 points to 4,606.38 points due to the decrease of CRDB and Afriprise share prices, while the Banks, Finance and Investment (BI) counter closed 31.27 points down at 5,703.67 points.

A total market turnover of 922.2m/- was recorded following the transactions of 425,394 shares traded at 305 deals, including block trades pre-arranged market board on NMB Bank and Tanzania Cigarette Company (TCC) counters.

Top movers were CRDB counter, which transacted 278,664 shares at a price of 660/- per share, followed by NMB counter which transacted 100,225 shares traded at a price of 5,300/- per share and TCC which transacted 33,366 shares at a price of 17,000/-.

On Block trade pre-arranged market board, NMB counter traded a block of 100,000 shares, while TCC counter traded a block of 33,366 shares.

Market analyst outlooks show that the equity market may experience a slight sell-off in the coming weeks.

“As we approach the end of the third quarter, the focus will shift to Q3 earnings reports, expected to be released in the last week of October. These reports will provide crucial insights into corporate performance and are likely to have a significant impact on market sentiment,” says a weekly outlook by Zan Securities Limited.

According to the broking firm and fund manager, companies in the banking and investment sectors, which have performed well throughout the year, are expected to report strong results, potentially boosting investor confidence.

Other notable stocks like TCC and TBL continued trading without major shifts in prices. Investors are keeping an eye on dividend declarations, particularly from companies like Vodacom, with payouts expected in October.

Foreign investors appeared in the market by selling shares valued 200m/-, which was equivalent to 21.71 percent of total value of shares sold and all shares were bought by local investors.

Report by Statista, The market capitalization in the Stock market is projected to reach US$6.54bn in 2024. 

It is expected to show an annual growth rate (CAGR 2024-2025) of -0.46 percent resulting in a projected total amount of US$6.51bn by 2025. The market volume in the Stock market amounts to US$195.40m in 2024.