A daily reading of Tanzania’s markets, capital and policy, with regional and global forces when they materially change the read. Information and education, never advice.
The Brief is written the morning after the market closes. This edition analyses Monday, 3 August 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.
Did the domestic market and the headline index move together or apart over the covered quarter?
Cumulative TSI return minus cumulative DSEI return · frozen at the 2026-08-03 covered session
Only declared transformations and compatible comparisons are enabled. The exact state is retained in the URL.
Reuse package · edition 2026-08-03-294be97bd123
| Date | Relationship | Cumulative gap (pp) |
|---|---|---|
| 2026-05-06 | Cumulative TSI minus DSEI | 0 |
| 2026-05-07 | Cumulative TSI minus DSEI | -0.26 |
| 2026-05-08 | Cumulative TSI minus DSEI | -0.04 |
| 2026-05-11 | Cumulative TSI minus DSEI | 0.44 |
| 2026-05-12 | Cumulative TSI minus DSEI | 0.16 |
| 2026-05-13 | Cumulative TSI minus DSEI | 0.33 |
| 2026-05-14 | Cumulative TSI minus DSEI | 0.05 |
| 2026-05-15 | Cumulative TSI minus DSEI | 0.02 |
| 2026-05-18 | Cumulative TSI minus DSEI | 0.14 |
| 2026-05-19 | Cumulative TSI minus DSEI | 0.18 |
| 2026-05-20 | Cumulative TSI minus DSEI | 0.31 |
| 2026-05-21 | Cumulative TSI minus DSEI | 0.58 |
| 2026-05-22 | Cumulative TSI minus DSEI | 0.62 |
| 2026-05-25 | Cumulative TSI minus DSEI | 1.16 |
| 2026-05-26 | Cumulative TSI minus DSEI | 1.33 |
| 2026-05-28 | Cumulative TSI minus DSEI | 1.62 |
| 2026-05-29 | Cumulative TSI minus DSEI | 1.53 |
| 2026-06-01 | Cumulative TSI minus DSEI | 1.64 |
| 2026-06-02 | Cumulative TSI minus DSEI | 1.98 |
| 2026-06-03 | Cumulative TSI minus DSEI | 1.73 |
| 2026-06-04 | Cumulative TSI minus DSEI | 1.84 |
| 2026-06-05 | Cumulative TSI minus DSEI | 2.02 |
| 2026-06-08 | Cumulative TSI minus DSEI | 1.87 |
| 2026-06-09 | Cumulative TSI minus DSEI | 1.58 |
| 2026-06-10 | Cumulative TSI minus DSEI | 1.19 |
| 2026-06-11 | Cumulative TSI minus DSEI | 1 |
| 2026-06-12 | Cumulative TSI minus DSEI | 0.67 |
| 2026-06-15 | Cumulative TSI minus DSEI | 0.28 |
| 2026-06-16 | Cumulative TSI minus DSEI | 0.43 |
| 2026-06-17 | Cumulative TSI minus DSEI | 0.34 |
| 2026-06-18 | Cumulative TSI minus DSEI | -0.16 |
| 2026-06-19 | Cumulative TSI minus DSEI | -0.03 |
| 2026-06-22 | Cumulative TSI minus DSEI | 0.35 |
| 2026-06-23 | Cumulative TSI minus DSEI | 0.14 |
| 2026-06-24 | Cumulative TSI minus DSEI | 0.04 |
| 2026-06-25 | Cumulative TSI minus DSEI | -0.93 |
| 2026-06-26 | Cumulative TSI minus DSEI | -1.49 |
| 2026-06-29 | Cumulative TSI minus DSEI | -1.56 |
| 2026-06-30 | Cumulative TSI minus DSEI | -1.28 |
| 2026-07-01 | Cumulative TSI minus DSEI | -0.56 |
| 2026-07-02 | Cumulative TSI minus DSEI | -0.77 |
| 2026-07-03 | Cumulative TSI minus DSEI | -0.47 |
| 2026-07-06 | Cumulative TSI minus DSEI | -0.3 |
| 2026-07-08 | Cumulative TSI minus DSEI | -0.53 |
| 2026-07-09 | Cumulative TSI minus DSEI | -0.52 |
| 2026-07-10 | Cumulative TSI minus DSEI | -0.51 |
| 2026-07-13 | Cumulative TSI minus DSEI | -0.53 |
| 2026-07-14 | Cumulative TSI minus DSEI | -0.73 |
| 2026-07-15 | Cumulative TSI minus DSEI | -0.56 |
| 2026-07-16 | Cumulative TSI minus DSEI | -0.76 |
| 2026-07-17 | Cumulative TSI minus DSEI | -0.66 |
| 2026-07-20 | Cumulative TSI minus DSEI | -0.63 |
| 2026-07-21 | Cumulative TSI minus DSEI | -0.47 |
| 2026-07-22 | Cumulative TSI minus DSEI | -0.38 |
| 2026-07-23 | Cumulative TSI minus DSEI | -0.27 |
| 2026-07-24 | Cumulative TSI minus DSEI | -1.38 |
| 2026-07-27 | Cumulative TSI minus DSEI | -0.38 |
| 2026-07-28 | Cumulative TSI minus DSEI | 0.02 |
| 2026-07-29 | Cumulative TSI minus DSEI | 0.11 |
| 2026-07-30 | Cumulative TSI minus DSEI | 0.09 |
| 2026-07-31 | Cumulative TSI minus DSEI | 0.16 |
| 2026-08-03 | Cumulative TSI minus DSEI | 0.07 |
2026-08-03-294be97bd123 · revision log →dse-daily-market-indicescumulative-excess-return; cumulative sum(TSI session return minus DSEI session return)Read: Above zero means the domestic index led. Below zero means the all-share led. A flat line near zero means their paths were similar.
Index scope differs. The measure adds only sessions with comparable published returns and is not a portfolio return. The excluded session remains disclosed in the values table.
Descriptive flags from the verified DSE close; not signals, predictions, or advice. The official close, fully broken down; After the Bell →
4,187.22 slipped 0.08% and 9,200.17 0.16%; TZS 7.096bn traded, with 94.3% in CRDB and NMB.
Twenty of 28 names traded, but decliners led advancers 11 to five. A near-flat index masked narrow liquidity and weak breadth.
Whether the next verified close broadens both participation and turnover beyond the two leading banks.
CRDB supplied 49.6% and NMB 44.7% of verified equity turnover; all other counters supplied 5.7%.
Twenty names traded, yet two banks supplied 94.3% of value. Participation count and distributable liquidity were different signals.
The 4 August close tests whether value spreads beyond CRDB and NMB while breadth improves from five advancers.
A free daily Tanzania market-intelligence note covering DSE moves, rates, FX, policy, macro signals and what to watch next.
H1 group profit rose 13% to TZS 405.8bn; assets, deposits and loans grew 26%, 29% and 26% year on year.
Balance-sheet expansion outpaced profit growth, while the disclosed NPL ratio held at 2.5%.
The next official filing tests whether loan growth, profitability and asset quality keep the same relationship.
Quarterly profit was TZS 3.385bn; TZS 1.808bn of OCI lifted total comprehensive profit to TZS 5.193bn.
Separating profit from other comprehensive income prevents the fair-value gain from being read as operating performance.
The next filing tests which portion of comprehensive income recurs and whether the fair-value movement reverses.
BoT's 7-day interbank rate was 6.07% on 3 August versus the 6.25% CBR; the latest 91-day bill was 3.3472%.
The interbank gap was 18bp, while the bill gap was about 290bp, separating near-term transmission from short-bill pricing.
The next verified bill auction remains undated; its yields test whether the gap narrows or persists.
The Ghost's hypothetical TZS 500m model book is +8.06% since inception at its 3 Aug mark. Narrow bank-led turnover, issuer filings and rate gaps are terrain for studying concentration, earnings quality and funding conditions; not trades.
Ghost relevance: The tape gave the model book its strongest week since inception; and the book reads that as a concentration question, not a confirmation. Fourteen of nineteen priced counters fell between the 24 July and 3 August closes while the indices rose, and roughly 85% of the week's model gain came from one name. NMB and Vodacom together are now about a third of the hypothetical book, which is inside every mandate band and still worth naming out loud. Educational only; a model book, never advice.
Open the Ghost tracker → The terrain it reads →| When | Event | Why it matters |
|---|---|---|
| after the 4 Aug session | DSE breadth and turnover distribution | The 3 August close had five advancers and 94.3% of equity turnover in CRDB and NMB; the next verified close tests whether breadth and value distribution improve. |
| date not announced | Next official NMB financial filing | H1 balance-sheet growth outpaced profit growth while the disclosed NPL ratio held at 2.5%; the next filing tests the relationship. |
| date not announced | Next official Afriprise financial filing | Q2 profit and the fair-value gain were reported in separate income components; the next filing tests recurrence and direction. |
| date not announced | Next verified BoT Treasury-bill result | Auction No. 1203 remains the latest verified result, with the 91-day yield about 290bp below the 6.25% CBR. |
| date not announced | Edible-oil programme implementation instrument | The reported TZS 500.6bn allocation remains distinct from cash deployment until a budget vote, disbursement profile or audited execution appears. |
A free daily Tanzania market-intelligence note covering DSE moves, rates, FX, policy, macro signals and what to watch next.
Compiled from public sources for information and education only; not investment advice, a forecast or a recommendation. Equity, index, breadth and turnover figures reconcile to the DSE verified close (3 Aug 2026); rates and FX use Bank of Tanzania publications, and inflation uses NBS. The current Wire hand-off was read first and contained four primary-grade cards. The NMB and Afriprise filings were retained after primary-source review. The CRDB card was omitted because its retained extraction exposed no usable financial table; the older TCCL filing was not repeated. Afriprise profit is kept separate from the TZS 1.808bn fair-value gain recorded in other comprehensive income. The reported edible-oil allocation is not treated as deployed cash. No foreign-flow split is inferred from the official session snapshot. Undated checkpoints remain explicitly undated. For live levels see Markets.