Telcom listing boosts DSE market value


LISTING of Vodacom Tanzania and prices appreciation of some counters pushed up domestic market capitalisation by 26 per cent to 9.74tri/- in the third quarter from 7.75tri/- on the second quarter this year.

According to the Dar es Salaam Stock Exchange (DSE) CEO quarterly note for quarter 3, 2017, the increase in prices of the selflisted DSE and Swissport contributed to outstanding performance.

“The Vodacom Tanzania and price appreciations compensated the decrease in prices on the TWIGA by 16 per cent, SIMBA by 15 per cent, TOL by 2 per cent as well as TBL, DCB and MKOMBOZI that declined by 1 per cent each to result into the net increase in market capitalisation and indices, “stated the report.

The trading turnover increased by 11 per cent to 129bn/- from 117bn/- posted in quarter one this year. Similarly, the listing of Vodacom Tanzania made the DSE total market capitalisation to rise by 6 per cent to 20.35tri/- from 19.28tri/- in the quarter ended June.

The overall 1.72bn/- valuation that was added in total DSE market capitalisation following VODA’s listing could not be wholly reflected, because it was negatively impacted by the decrease in value in other counters.

Both domestic as well as for cross listed companies, mainly by ACACIA whose price decreased resulted in a valuation decrease amounting to 1.48bn/- which is 42 per cent during the quarter three and year to date ACACIA counter value has decreased by 50 per cent.

Weighted Average Market Price Earnings (PE) Ratio for domestic listed companies was trailing at 13.67 times compared with the PE trailing of 15.91 times as of June.

The trailing weighted average dividend yield was 4.3 percent compared to 5.4 per cent recorded in the previous quarter. Relative to other selected stock markets in Sub-Saharan Africa, the index performance in US Dollar Adjusted Returns as reported.

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