MSE raises K60.4m
The Malawi Stock Exchange (MSE) last week raised K60.4 million ($183 710.30), a 53.2 percent rise from the previous week’s K39.4 million on the back of share price increases in Illovo Sugar (Malawi) Limited and Standard Bank.
Market analysts say Illovo challenged the otherwise lacklustre market performance that has been bearish for some time to gain K3 to close at K153 per share with 9 884 shares changing hands.
Standard Bank which traded 6 615 shares continued its upward surge from last week with a K2 gain to close the week at K123 per share.
The share price gain resulted in the overall measure of the market, the Malawi All Share Index (Masi), inching upwards by 60.81 points to close the week at 5940.64 points due to an increase in the Domestic Share Index, the domestic counters’ gauge, by 48.54 points from 4626.22 points to 4674.76 points.
 The foreign share index anchored by one foreign counter, Old Mutual plc (OML), was steady at 754.12 points.
During the week, the market recorded activity on six counters, FMB, Illovo, Mpico Limited, National Bank of Malawi, National Investment Trust Limited and Standard Bank.
Of the counters that registered trading activity, FMB had the highest number of shares changing hands followed by Mpico while Standard Bank traded the least.
The 14-counter MSE, transacted 5.9 million shares during the week.
The shares market has also suffered the consequences of investors fleeing the stock market to the more lucrative money market where rates are attractive since the bank rate was raised to 21 percent in July.
