DAR ES SALAAM, Sept. 2 -- THE stock market is gaining momentum as domestic investors cushion heavy foreign selling, with major banking counters leading the advance.

According to Advisory and Research Manager at Zan Securities Limited, Mr Isaac Lubeja, the equity market is entering the coming weeks with a more constructive tone, although the divergence between strong domestic price appreciation and elevated foreign selling suggests the rally should be viewed with caution.

“The increase in market activity points to renewed investor interest, particularly in large-cap counters. However, the concentration of liquidity in a few stocks means the sustainability of the advance will depend on whether participation broadens beyond the domin...