Illovo, Nico drive Masi up
The Malawi All Share Index (Masi) inched up in the last two consecutive weeks due to a rise in share prices including Nico Holdings and Illovo which maintained a steady increase during the fortnight.
The Masi inched to close at 12416.60 points during the week ending November 29, after increasing by 202 points in the week ending November 22.
Malawi Stock Exchange statistics indicate that in the week ending November 29, the local bourse recorded trading activity in ten counters in which a total of 287 343 395 shares were transacted in 35 deals.
During the week under preview, the Masi inched upwards by 53.42 points due to an increase in domestic share index by 42.65 points as a result of share price gains by Blantyre Hotels Limited (BHL) which rose by K1 to K8, Illovo by K2.10 to K287, Nico by K0.55 to K16.75 and Press Corporation Limited (PCL) by K0.45 to settle at K285 per share.
And during the previous week, the week ending November 22, the stock market was also marginally bullish, the Masi was also marginally bullish and increased by 202 points to settle at 12363.18 due to increases in the share prices of Illovo from to K284.90, Nico to K16.20, Old Mutual to K1350 while Standard Bank share price rose to K383.90.
