DAR ES SALAAM Stock Exchange (DSE) plc shares continue leading other equities in share price gain since the beginning of this year. The investors are pushing the share demand banking on the firm future growth prospects.
Investors understand DSE will generate more revenue because the law stipulates that mobile phone and mining companies must list on the bourse,” Mr Masumbuko told ‘Daily News’ yesterday. The CEO said the demand will continue since investors are anticipating that DSE will grow toward the size of Nairobi Securities Exchange (NSE). “DSE is walking towards NSE and means more dividend, capital gain and promising future,”
Mr Masumbuko said. Currently DSE has 19 listed firms of which five are listed on alternative market while NSE has over 60 firms. The second stocks on appreciation price list was TBL that increased by10.7 per cent to15,500/- in the last three and half months ago. CRDB Bank, the largest bank stock, was on the third slot after its share price climbed up 6.25 per cent to 170/- and Twiga Cement by 1.4 per cent to 1,580/-. “[In general] the bank stocks are set to do better as banks are clearing their books to do away [probably] bad debts,”
Mr Masumbuko said. The banks are complying with central bank (BoT) new accounting procedures that require financial institutions to set aside more for probably bad debts. Poor performing stocks was Tanzania Tea Packers (TaTePa) that tumbled to 78.3 per cent from 600/- to 130/-, after the firm discounted their stocks, Tanzania Cigarette Company (TCC) that sunk by 9.5 per cent to 16,300/- from 16,800/- and Mkombozi Bank went down 6.7 per cent to 830/- from 890/-. The rest of the stocks stagnated
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