MSE weekly turnover slump
The Malawi Stock Exchange (MSE) weekly turnover dropped to K41.3 million (about $103 250) from the previous week’s K1.4 billion (about $3.5m) largely affected by less shares at 7.5 million transacted in seven counters.
Comparatively, the previous week the market transacted 775 million shares in six counters, according to the share market report.
In the week, the only foreign counter Old Mutual plc (OML) gained K6 to close the week at K886 effectively moving up the Foreign Share Index (FSI) by 1.84 percent.
National Investment Trust Limited (Nitl) also inched upwards by six tambala to K17 per share with 1.2 million shares changing hands on the counter.
The movement in Nitl and OML resulted in a positive shift of 0.64 percent on the overall measure of market performance Malawi All Share Index (Masi) while the Domestic Share Index (DSI), the gauge of domestic counters’ performance took a modest upward shift and rested at 4 989.85 points due to Nitl’s gain.
FDH Stockbrokers Limited, in their weekly commentary, said all the “highly demanded counters, National Bank of Malawi, Standard Bank and Illovo Sugar (Malawi) Limited registered trades, but at the back of marginal volumes as the week ended.”
