Malawi All Share Index inches upwards
Four of Malawi Stock Exchange (MSE) counters—FMB, National Bank of Malawi (NBM), Standard Bank and Old Mutual Limited (OML)—gained in the week ending August 16, indicates the recent weekly report.
The report showed that the Malawi All Share Index (Masi) inched upwards by 353.40 points to close the week at 7836.83 as a result of share price gains in FMB by K1.97 from K8.54 to K10.51, NBM by K18.50 from K70.00 to K88.50, Standard Bank by K7 from K172 to K179 and OML by K31 from K1 000 to K1 031.
The report further indicates that the domestic share index and the foreign share index rose by 278.62 points from 5 861.26 points to 6 139.88 points and by 38.96 points from 1 256.86 points to 1 295.83 points respectively.
During the week, the market recorded trading activity in 10 counters, namely, FMB, Mpico, NBM, NBS, Nico, NITL, PCL, Standard Bank, TNM and OML.
In the week ending August 16 a total of 8,758,538 shares were transacted during the week at a total consideration of K50.8 million in 25 deals.
However, in the securities market at the auction held on August 13, the average yield on the 91 days T-Bills, the 182 days T-bills and the 364 days T-Bills decreased by 2.49 percent from 28 percent to 25.51 percent, by 1.5 percent from 27 percent to 25.5 percent and by 2.53 percent from 29.01 percent to 26.48 percent respectively, resulting in MK4 002.87 million being raised against an announced amount of K4 000 million.
