Only 6 counters record trading at Malawi Stock Exchange

Only 6 out of 13 counters at the Malawi Stock Exchange (MSE) registered share trading activity this week.

The lucky counters were Illovo, National Bank of Malawi, NBS Bank, TNM, National Investment Trust Limited and Press Corporation Limited.

The MSE notes in its weekly report that a total of 2.2 million shares were transacted during the week at a total consideration of K5.9 million (US$17,704.44) in 22 deals.

There were slight increases in share prices with Illovo gaining 6 tambala to trade at o MK190.16, National Bank 20 tambala to trade at K67.20 per share and NBS Bank shares also registered a price jump from K8 to K8.50.

Malawi Stock Exchange
Malawi Stock Exchange

This led to an increase of the Domestic Share Index by 9.46 points from 5408.87 points to 5418.32 points pushing up main market indicator, the Malawi All Share Index by 11.84 points to close the week at 6914.45 points due.

There was a general decline in earning on the money market, at the auction held on June 25, with the average yield on the 91 days T-Bills, the 182 days T-bills and the 364 days T-Bills decreasing by 0.03 percent to 32.90 percent, from 33.87 percent to 32.93 percent and from 36.14 percent to 35.97 percent respectively.

This resulted in K1.809 billion being raised against an announced amount of K1.850 billion. Treasury Bills in Malawi are open to foreign investors and both the capital and interest are remittal after deduction of withholding tax on interest currently at 15 percent.

Treasury Bills maturities during the week ended June 28 amounted to K1.7 billion and maturities for the week ending July 5 stand at K399 million.

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