Dar es Salaam Stock Exchange (DSE) all share index has dropped to six months low after rallying to all time high in the first week of last month. The index, DSEI all, closing Friday session at 2389.79 points almost similar recorded on Monday, March 21 this year. The exchange bullish mode was trigged after the listing of DSE stock that appreciated from 500/- a share to 1,800/- in four weeks.
The share price, however, made a quick u-turn and settled at 1,100/- on Friday. Thus the exchange was affected by the drop of almost 40 per cent of DSE in about a week. Zan Securities Chief Executive Officer (CEO) Raphael Masumbuko said “recent DSE volatility has created fertile ground for traders.
” This year, data show that DSEI reached a historical highest level of 2,826.50 points in the first week of August. While, the lowest point was 2,228.67 recorded at the last week of January.
Thought DSEI dropped to 2,373.53 points recorded on Friday, it’s still two years high. The same points were recorded in August 2014.