(3 Minutes Read)
NICOL and NMB Bank stocks scored over 50 per cent return on Dar es Salaam Stock Exchange (DSE)in 2023. NICOL, a closed-end fund heavily invested in NMB shares, outshone the rest, recording a total return of 67 per cent. NMB emerged as another significant performer, securing a total return of 58 per cent.
NICOL and NMB Bank stocks scored over 50 per cent return on Dar es Salaam Stock Exchange (DSE)in 2023. NICOL, a closed-end fund heavily invested in NMB shares, outshone the rest, recording a total return of 67 per cent. NMB emerged as another significant performer, securing a total return of 58 per cent. NICOL and NMB contributed immensely to push the banking, finance, and investment stocks and thus witnessed an average weighted return of 34 per cent as indicated by the Banking, Finance, and Investment Index last year.
TICL, a closed-end fund, conducted a rights issue, capturing considerable attention as one of the most actively traded counters, especially in the fourth quarter of last year. Investors who had established positions earlier in the year reaped the rewards with a 31 per cent return,” the synopsis said.
CRDB, a leading bank in the country and the most liquid stock on the exchange, garnered a 28 per cent total return, while the self-listed DSE posted a 13per cent return throughout the last year. Another standout was Twiga cement, offering a commendable performance with a 28 per cent total return for its investors throughout the year.
Read Also:
https://trendsnafrica.com/dar-es-salaam-stock-exchange-dse-clocks-high-market-turnover/
https://trendsnafrica.com/nmb-tanzanias-profit-increased-by-23-per-cent/
Investors who opted to invest blindly across all domestically listed stocks on the exchange, without selectively choosing any, managed to secure an 11 per cent return by the year’s end as indicated by the performance of the Tanzania Share Index.
