The 14-counter Malawi Stock Exchange (MSE) registered a positive return on index in April as reflected in the upward movement of the indicative Malawi All Share Index (Masi) buoyed by price gains in five counters.
In the monthly report for April 2014, the local shares market, one of the barometers of economic performance, achieved a monthly return on index of 2.3 percent [5.53 percent in dollar terms] with Masi—the overall measure of market performance—moving to 13 087.48 points from 12 782.98 points.
The price gains registered in five counters; National Bank of Malawi (NBM), National Investment Trust Limited (Nitl), Press Corporation Limited (PCL), Sunbird Tourism Limited and TNM plc were the major drivers, pushing up domestic share index (DSI) by 2.41 percent or 5.56 percent in dollar terms, to 10 293.23 points from 10 050.98 points.
The foreign share index, anchored by one counter, Old Mutual plc, was steady at 1 709.34 points largely due to no share price movement in the counter during the month under review, according to the report.
“A total of 35.5 million [72.1 million in April 2013] shares were transacted in the month of April 2014 at a total consideration of K722.9 million ($1.7 million) [K203. 9 million ($1.2 million), April 2013] in 141 trades,” reads the report.
The report indicates that in the month before [March 2014], the market transacted 18.2 million shares, raising K190.3 million ($460 601.45) in 109 trades, reflecting a 94.39 percent increase in terms of share volume and 279.82 percent increase [287.66 percent in dollar terms) in share value.
“The market registered an average daily volume of 1.6 million shares in April 2014 compared to 871 081 shares in March 2014. The average daily turnover for April 2014 was K34.4 million ($85 027.50) compared to K9 million ($21 933.40) for the previous month, reflecting an increase of 279.82 percent (287.66 percent in dollar terms,” says the report.
But market analysts said investors have not responded favourably in line with the performance of the most of the listed companies that have posted good results.
The Masi jumped by 14.52 points to close the week at 13 103.58 points.