The country’s sole bourse, the Malawi Stock Exchange (MSE), registered a rise in its share index due to price gains in Nico Holdings Limited and Standard Bank regardless of elections in the week that were marred by some irregularities and uncertainity.
According to available figures, the stock market was marginally bullish last week with the Malawi All Share Index (Masi) increasing by 18.40 points to settle at 13 132.27 points.
Nico Holdings share price gain from K18.41 to K19.15 while Standard Bank share price rose from K395 to K395.01 ,consequently pushing the Domestic Share Index (DSI) to 10 328.86 points from 10 314.23 points.
The Foreign Share Index (FSI) was stable at 1 709.34 points since December 2013.
According to available figures, a total volume of about 1.4 million shares were transacted during the week at a total consideration of K4.55 billion in 15 deals.
In 2013, Nico Holdings reported an after tax profit of K9.1 billion compared to K1.5 billion in 2012 while NBS Bank’s net profit jumped 163 percent to K1.9 billion.
Standard Bank of Malawi registered a 52 percent rise in profits to K12 billion in 2013.