But market analyst James Chikavu Nyirenda, who is also Alliance Capital LimitedÂ chief executive officer, told Business News on Monday this is expected because most companies report their year-end results at this time of the year.
â€œInvestors are a bit excited with company results. The whispers or the news [from the companies] is driving up investor sentiments,â€ said Nyirenda, adding the market will stabilise once the reporting period is over.
A weekly report ending March 30 2012 shows that the gain in five counters; FMB, Illovo Sugar (Malawi) Limited, Standard Bank, TNM plc and Old Mutual plc (OML) pushed up the Malawi All Share Index (Masi) by155.05 points to close at 5 667.12 points.
This was a result of increases in both the Domestic Share Index (DSI), the domestic countersâ€™ gauge, by 122.76 points to 4472.32 points from 4 349.56 points and the Foreign Share Index (FSI) by 11.31 points to 576.90 points from 565.59 points, according to the report.
Of all the counters that gained, OML, the only foreign listed company, gained the most, adding K9 to its price to close the week at K459 per share but had the least number of shares changing hands at 613.
Illovoâ€™s share price went up to K140 per share, an increase of K5 from last weekâ€™s K135 with 55 000 shares being transacted, the report shows.
Standard Bank gained K3 to close at K113 per share, FMBâ€™s share price went up to K7.72 per share, a gain of 72 tambala from K7 the week before.
TNM plc which had 13.7 million share changing hands gained six tambala to close at K1.81 per share, according to the report.
In all, the market registered trading activity in 11 counters with 16.5 million shares changing hand raising K78.6 million ($641 254.36) in 26 deals.
The local shares market has 14 counters.