Nitl, TNM up the market
Share price gains in TNM plc and National Investment Trust Limited (Nitl) brought activity on the Malawi Stock Exchange (MSE) last week pushing the all share index by 2.57 points.
The MSE trading report for the week ending April 5 2012 showed that the mobile phone company gained one tambala to close the week on Thursday at K1.82 per share.
On the other hand, the collective investment scheme’s share price jumped by six tambala to end the week at K16.06 per share.
The share price gain in the two counters resulted in the domestic share index (DSI), the local counters’ gauge, inching upwards by 2.05 points to 4 474.37 points.
Old Mutual plc (OML), the only foreign counter on the local bourse, did not register any share gain resulting in the foreign share index (FSI) remaining steady the whole of the week.
During the week, eight counters, namely; Illovo Sugar (Malawi) Limited, Mpico Limited, National Bank of Malawi, NBS Bank, Nitl, Standard Bank and TNM plc recorded trading activity, according to the market report.
In the treasury bills (TBs) market, the average yield on the 91 days TBs tenor decreased to 6.31 percent from 6.49 percent, according to the Reserve Bank of Malawi (RBM).
On the other hand, the average yield on the 182 days increased to 7.30 percent from 7.05 percent whereas the 364 days TBs tenor went up to 9.39 percent from 8.99 percent.
But a market analyst said the rates were not attractive because they are below inflation currently at 10.9 percent, as at February, according to the National Statistical Office (NSO).
