Malawi Stock Exchange in slight share price increases this week

The Malawi Stock Exchange (MSE) has reported minimal share price increases in only three counters as it closed business on Friday for Independence celebrations  and a public holiday Monday.

As the last calls were being made on MSE’s floors along Victoria Avenue in Blantyre, only NBS Bank, Press Corporation Limited and National Investment Trust Limited (Nitl)had registered slight share price jumps of not even K1 each.

Shares for NBS Bank each added 50 tambala from K8.50 to K9, NITL share price moved from K17 to K17.25 and while Malawi’s corporate giant, PCL only had 97 tambala rise for each of its shares to trade at K188.97 from K188.

Despite being small, the movement of the share prices had an impact on MSE’s main market indicator, the Malawi All Share Index (Masi)which  inched upwards by 12.18 points to close the week at 6926.63 Points.

Malawi Stock Exchange
Malawi Stock Exchange

This orginated  from the increase in the Domestic Share Index by 9.72 points from 5418.32 points to 5428.05 points. The Foreign Share Index was steady at 1131.18 points.

In total he market recorded trading activity in 9 counters and the others were First Merchant Bank, National Bank of Malawi, Nico, Standard Bank, TNM and Old Mutual.

A whole amount of 3.1 million were transacted during the week at a total consideration of K43,769,524.80 (US$131,258.11) in 27 deals.

There was a mixed outcome of earnings on the money market as at the auction held on July 2, the average yield on the 91 days T-Bills and the 364 days T-Bills decreased from 32.90 percent to

32.87 percent and from 35.97 percent to 35.83 percent respectively, whilst the 182 days T-bills increased by 0.53 percent from 32.93 percent to 33.46 percent.

This resulted in K1.802.22 billion being raised against an announced amount of K1.800 billion.

Treasury Bills maturities during the week ended July 5 amounted to K399 million while maturities for the week ending July 12 stand at K2.1 billion.

Malawi’s Treasury Bills are open to foreign investors and both the capital and interest are remittal after deduction of withholding tax on interest currently at 15.0 percent.

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