Malawi Stock Exchange (MSE) raised about K333 million in the week ending May 12, with about 11 million shares changing hands as a result of share price gains on six counters.
The gain in the three counters, namely Illovo Suagr (Malawi) Limited, National Bank of Malawi (NBM) and National Investment trust Limited (NITL) pushed the Malawi All Share Index (Masi) upwards by 363 points from 13 672 points to 14 036 points
According to data released by MSE on Friday, the price gained in Illovo by K1.40 from K215.01 to K2 216.05, Nico Holdings by K0.77 from K11.24 to K12.01, Press Corporation Limited by K30 from K540 to K570, Standard Bank by K5 from K555 to K560, TNM by K0.83 from K8.51 to K9.34 and Old Mutual Limited by K13 from K1 837 to K1 850 pushed up the Masi.
In the review period, the Masi inched upwards by 339.45 points from 15 266.66 points to 15 606.11 points due to an increase in both the Domestic Share Index by 268.85 points from 11 985.58 points to 12 254.44 points and the Foreign Share Index by 16.34 points from 2 308.87 points to 23 25.21 points.
Compared to the previous week, the MSE performance during the review period has decreased in both value terms and volume terms.
Last week, the market transacted a total of 33 million shares at a total consideration of K502 million in 16 deals.
Commenting on the development, one market analyst told Business News it is not surprising that the market is posting good results as listed companies have impressive results since the start of the year.