Good tidings on MSE continue, index up 5.85%
The 16-counter Malawi Stock Exchange (MSE) continued on a positive trajectory in August with nine counters registering share price gains, pushing up the overall market measure by an average 5.85 percent, a market report shows.
Year-to-date, return on investment, an approximate measure of an investment’s profitability, stands at 91.95 percent, a jump from 20.03 percent in a similar period last year.
The MSE Market Performance Report for August 2023 shows that the Malawi All Share Index (Masi), the overall measure of the local shares market’s performance, increased.
Reads the report in part: “The price gains registered on National Bank of Malawi plc, Standard Bank plc, FMB Capital Holdings plc, Old Mutual Malawi plc, National Investment Trust Limited, Illovo Sugar [Malawi] plc, FDH Bank plc, Airtel Malawi plc and Sunbird Tourism plc were enough to offset share price losses in Nico Holdings plc, NBS Bank plc, Icon Properties plc and TNM plc, resulting into an upward movement of the Masi.”
Market capitalisation during the review period increased from K6.07 trillion to K6.44 trillion.
Minority Shareholders Association of Listed Companies secretary general Frank Harawa in an interview described the performance of the market as exceptional, saying investors are happy.
“We will live to remember this year because we have earned money that we have never made before,” he said.
Stockbrokers Malawi Limited chief executive officer Noel Kadzakumanja said in an interview that the development is good news to the investors and the market.
He said the feat shows how resilient MSE has been in the face of the subdued economy.
MSE operations manager Kelline Kondowe is on record as having said the outlook for the market is positive and that the performance is evidence that the stock market offers a competitive avenue for value preservation.
