Six counters gain on Malawi Stock Exchange
The local shares market, the Malawi Stock Exchange (MSE), was bullish in the week ending July 26 which saw six counters’ share prices rise according to weekly market performance report.
MSE indicates that the share prices of FMB increased from K8.50 to K8.54, National Bank of Malawi (NBM) from K69.32 to K70. National Investment Trsut Limited (NITL) share price also rose from K17.54 to K19, Standard Bank from K166 to K172, Illovo Sugar (Malawi) Limited from K194.50 to K200 and Old Mutual (OML) from K901 to K1 000.
Consequently, the Malawi All Share Index (Masi) increased by 1.43 percent to settle at 7 2 77.08 points from 7 125.41 at the end of the previous week.
“The market recorded trading activity in 10 counters, namely, FMB, Illovo, Mpico, NBM, NBS, Nico Holdings, NITL, Standard Bank, TNM and OML during the week ending 26th July, 2013.
A total of 16 123 527 shares were transacted during the week at a total consideration of K169 426 389.76 ($511 177.29) in 33 deals.
Masi inched upwards by 151.67 points to close the week at 7 277.08 points due to an increase in both the Domestic Share Index and the Foreign Share Index by 109.91 points from 5 586.62 points to 5 696.53 points and by 124.43 points from 1132.44 points to 1256.86 points respectively, as a result of share price gains,” reads the MSE report in part.
Last week, stock market and investor analysts argued that investors are supposed to shift to the capital market when the money market rates decline.
Treasury Bills(T-Bills) yields have for the past four months declined by 20 percent.
