Festive season dampens MSE performance
Trading on the Malawi Stock Exchange (MSE) ended last week with no share price gain as the festive season continues to reflect on the local bourse’s performance, the weekly market report has shown.
Market analysts say most of the investors have closed shop in view of the Christmas and New Year festivities and will most likely open for business in the first week of January 2014.
Last week, according to the report for the week ending December 20 2013, the 14-counter market recorded trading activity in nine counters with 4.3 million shares changing hands, but with no share price gain.
This is reflected in the market’s overall measure, the Malawi All Share Index (Masi), which remained steady last week at 12 531.04 points due to non-movement in both the domestic share index and the foreign share index which closed at 9 850.19 points and 1 709.34 points respectively.
The foreign share index, anchored by one foreign counter, Old Mutual plc, remained steady due to no share price gain on counter.
In the week under review, the market recorded trading activity in Mpico Limited, National Bank of Malawi, NBS Bank, Nico Holdings Limited, National Investment Trust Limited, Press Corporation Limited (PCL), Real Insurance Company of Malawi Limited, Standard Bank and TNM plc.
According to the report, Nico Holding transacted more shares at 2.8 million with the least 250 recorded on PCL.
Some of the companies have issued trading statements to their shareholders indicating that their year-end profits will likely be higher than the prior year.
