Malawi Stock Exchange (MSE) registered increasing trading activity in July when 9.8 million shares changed hands in 65 trades in July, up from 5.4 million in 85 trades recorded in June 2016.
This is despite the market recording a 50.5 percent decrease in traded value at K79 million in July from K160 million recorded in June.
In its monthly market report for July 2016, the 13-counter bourse said the movement reflects a 78.6 percent increase in terms of share value and a 50.5 percent drop in share value in kwacha terms and 50.9 percent in dollar terms.
Reads the report The Nation has seen: “Daily average share trades exhibited similar trends where the market registered an average daily volume of 467 739 shares compared to 261 892 shares traded in June.”
During the month under review, Sunbird Tourism Limited and Telekom Networks Malawi (TNM) were top gainers after registering 21.6 percent and 14 percent capital gains respectively.
On the other hand, Nico Holding Limited was recorded as the top loser having registered a 13.6 percent capital loss.
According to the report, five counters—NBS Bank at 4.014 million shares, Mpico Limited at 596 310 shares, Nico Holding Limited at 261 351 shares, TNM at 4.8 million shares and Sunbird at 64 670 shares—were the top five traded stocks by volume in July.
In terms of value, TNM at K29 million, NBS Bank at K28 million, Standard Bank at K5.4 million, Nico Holdings Limited K4.9 million and Mpico at K3.5 million were the top five traded stocks.
The market registered a 1.95 percent positive return on index as reflected in the upward movement of the Malawi All Share Index (Masi)—the overall measure of market performance—from 13 126 points reported in June to 13 381.50 points in July.
Until April this year, MSE had 14 counters before Britam Insurance Company delisted from the market.
There are now 13 listed counters on the MSE which include FMB, Illovo Sugar (Malawi) Limited, Malawi Property Investment Company (Mpico) Limited, National Bank of Malawi (NBM), NBS Bank, Nico Holdings Limited, National Investment Trust Limited (Nitl), Press Corporation Limited (PCL), Standard Bank Limited, Sunbird Tourism Limited, Old Mutual plc, Blantyre Hotels Limited and TNM Plc.