Malawi Stock Exchange closes flat

Kamphoni (Standing) and Chakani looks onTNM plc led the activity on the Malawi Stock Exchange (MSE) last week with 3.1 million shares changing hands, but the market registered no price movement on all the counters leading to market barometers remaining steady.

The 14-counter local bourse recorded trading activity on six counters, transacting 7.3 million shares at K356.6 million in 20 deals, according to the MSE weekly market report.

The Malawi All Share Index (Masi)—the overall measure of market performance—closed flat at 12 661.60 points due to a non-movement in the domestic share and the foreign share indeces which closed the week at 9 954.42 points and 1 709.34 points respectively.

According to the report, the six counters that registered trading activity are NBS Bank with 2.2 million shares transacted, Illovo Sugar (Malawi) Limited one million shares, Nico Holdings Limited 730 000 shares, National Investment Trust Limited 261 388 shares with the least at FMB 21 950 shares.

Market analysts say investors are still waiting for company’s release of financial results to decide on which counters to invest in.

The MSE, one of the tiniest but vibrant markets in the sub-region has 22.4 billion shares on issue.

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