A 1.04 percent rise in NBS Bank share price pushed up the indicative all share index by 1.72 points, signalling that the counter is still luring more investors.
The week before, the bank’s share price also went up, a development market analysts attributed to a share price correction and also a reaction to the share price drop the counter suffered two weeks ago.
This comes on the back of the company listing bonus shares on the Malawi Stock Exchange (MSE).
But analysts still feel the bank’s share price is worth more than the prevailing market price.
The MSE weekly commentary indicates that NBS Bank price went up to K9.70 from K9.60 the week before.
This pushed up the domestic shares gauge, the domestic shares index (DSI) by 1.38 points.
On the other hand, the foreign share index (FSI), anchored by one foreign counter, Old Mutual plc (OML), remained steady last week because of no share price movement on the counter.
During the week, according to the commentary, five counters, namely; Illovo Sugar (Malawi) Limited, Mpico Limited, Press Corporation Limited (PCL), Standard Bank registered trading activity but with no share price gain.
With only six counters trading, the market raises K10.4 million ($62 816.72) in 28 deals which is lower than the previous week’s K11.4 million ($69 084.02) in 16 deals, according to the market report.
The local equity market has 14 listed counters with 23.3 billion shares on issue.
