Dar es Salaam Stock Exchange Week 12 of 2026: Bond Turnover Surges +70.70% as ETF Trading Spikes in a Cooling Equity Market

The Dar es Salaam Stock Exchange (DSE) trading activity for Week 12 of 2026 spanned from Monday, March 16th, 2026, through Friday, March 20th, 2026.

Equity Turnover and Volume

Equity Turnover (excluding ETF trades) reached TZS 27.26 billion. This reflects a decrease of -36.13% compared to Week 11’s TZS 42.68 billion.

Share volume totaled 7,940,566 shares. This represents a substantial -49.62% decrease compared to the 15,760,406 shares traded in Week 11.

CRDB overwhelmingly continued to dominate DSE volume, recording a weekly total of 5,306,962 shares traded across normal and block trades.

ETF Trading

The ETF board saw substantial activity, recording a total unit volume of 3,602,127 units. This marks an increase of +116.53% compared to Week 11’s volume of 1,663,539 units. Trading generated a total turnover of TZS 4,170.04 million, reflecting a massive increase of +163.15% from Week 11’s TZS 1,584.63 million. A massive block trade on Wednesday alone accounted for 2,679,430 units of the IEACC-ETF.

In terms of price performance, the IEACLC-ETF recorded a modest appreciation of +0.79%, rising from TZS 1,260 to TZS 1,270 per share. The VERTEX-ETF remained flat, holding its value at TZS 395 per share throughout the week.

Market Capitalisation

The Total Market Capitalisation closed Week 12 of 2026 at TZS 34,289.30 billion. This represents a slight decrease of -0.67% compared to the Week 11 closing figure of TZS 34,520.83 billion.

The Domestic Market Capitalisation closed the week at TZS 23,431.11 billion. This reflects a decrease of -1.42% compared to the Week 11 closing figure of TZS 23,769.67 billion.

The ETF Market Capitalisation surged to end the week at TZS 192.10 billion from the Week 11 close of TZS 190.50 billion.

Bond Market

Bond turnover totaled TZS 294.70 billion. This represented a sharp +70.70% increase compared to Week 11’s bond turnover of TZS 172.64 billion.

Government securities fueled the week’s trading volume, primarily anchored by Tuesday, March 17th, which recorded an immense TZS 111.16 billion traded across 123 deals.

Corporate bonds added modest activity, with a 5-year bond (12.00% coupon) and 3-year bonds (9.50% and 12.50% coupons) seeing trades throughout the week.

Indexes

The DSE benchmarks posted mixed results during the week. The Industrial & Allied (IA) Index was the sole gainer among the primary indices, rising by +0.84%. Conversely, the Commercial Services (CS) Index recorded the largest drop, losing -2.57%, followed by the Banks, Finance & Investment (BI) Index, which fell by -2.14%.

Stock Performances

Gains were decisively led by JHL, which surged by +15.00% to close the week at TZS 8,050 per share, up from TZS 7,000.

The second-highest gain for the week belonged to SWIS, which recorded an appreciation of +10.77%, rising from TZS 2,600 to TZS 2,880 per share. Other notable gainers included DSE (+5.61%) and TPCC (+5.58%).

On the other hand, several stocks saw a decline in value. The biggest loss was recorded by PAL, which plummeted by -37.87% to close at TZS 525.

MUCOBA was the second largest loser, recording a drop of -7.22% to close at TZS 900 per share. Market heavyweight CRDB also retreated by -3.77% to close at TZS 2,810.