MSE good tidings continue in 2018

 

Share price gains on Malawi Stock Exchange (MSE) in the just ended year seem to have crossed over to 2018 as reflected by the upward movement of Malawi All Share Index (Masi) by 113.33 points last week.

The jump, according to MSE weekly report, was a result of an increase in the domestic share index by 103.26 points from 16 272.64 points to 16 375.90, thanks to share price gain in TNM Plc by 50 tambala from K14.50 to K15.

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During the week, a total of 1.75 million shares were transacted, raising  K40 million in 22 deals, a jump from the prior week’s 232 700 shares traded at K2 million in three deals.

In an interview yesterday, MSE operations manager Esnat Chilije was also upbeat that the market will continue to register positive results should the macroeconomic environment continue to stablise.

“Inflation and interest rates have declined while the exchange rate has been largely stable creating conducive environment for business operation and also attracting investors to the capital market.

“But to further consolidate the benefits to the capital market, there is need for deliberate policies that will ensure the stability of the macroeconomic indicators in the long-term,” she said.

A market analyst yesterday said the good start could be on the account of the good performance of the MSE in the just ended year.

He said: “Looking at the performance of the stock market in 2017 and also promises made by the MSE, investors are surely looking at the stock market from a different perspective.

The worry remains the limited number of counters [13] on the MSE as this would give investors more options of where to invest in.”

In 2017, MSE performance was largely impressive, registering improvements in both share value and volume.

The stock market posted a gain of 58.58 percent in the period between January 1 2017 and November 30 2017 as depicted in the movement of the Masi-the overall benchmark of MSE performance.

Other than TNM Plc, the market also recorded trading activity in six counters, namely Mpico Plc, Illovo Sugar (Malawi) Plc, National Bank of Malawi Plc, NBS Bank Plc, Nico Holdings Limited and FMBCH Plc.

 

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