MSE in marginal bullish trade
The Malawi Stock Exchange (MSE) was marginally bullish during last week’s trade with four counters gaining in share price, pushing the indicative Malawi All Share Index (Masi) up by 0.37 percent.
This means that the 14-counter market has maintained its bullish mood which began last week, according to a weekly market wrap from FDH Stockbrokers Limited.
During last week’s trade, 10 counters—FMB, Illovo Sugar (Malawi) Limited, Mpico Limited, National Bank of Malawi, NBS Bank, Nico Holdings Limited, Sunbird, TNM plc, Standard Bank and Old Mutual plc (OML)—registered trading activity.
The price gains also resulted in the domestic share index, the measure of domestic counters’ performance, increasing by 3.58 percent to close the week at 8 083.73 points largely buoyed by the share price gains in the four counters.
The foreign share index, anchored by one counter, OML remained steady at the close of the week at 1 296.46 points, due to no share price gain on the counter.
In the week, the market’s turnover peaked at K116.4 million on the back of 19.8 million shares changing hands during the week.
Overall, the market registered a positive return on index of 35.84 percent (33.1 percent in dollar terms) closing Masi—the overall measure of market performance—at a record high of 9 884.95 points compared to 7 277 points in July.
