Despite improved activity at the Malawi Stock Exchange (MSE) last week, the market closed in the red owing to share price losses on two counters, according to a weekly report.
Share price losses in two banks, FMB and NBS Bank pulled down the overall indicative measure of market performance, the Malawi All Share Index (Masi)Â by 28.53 points to close the week at 5 885.84, said the MSE weekly report.
But with eight counters; FMB, Illovo Sugar (Malawi) Limited, National Bank of Malawi, NBS Bank, National Investment Trust Limited, Standard Bank and TNM, registering trading activity, the market achieved an overall turnover of K88 million ($278 685) in 28 deals.
â€œHowever, the improvement in activity came at the expense of losses in share value on some counters,â€ says a weekly report from FDH Stockbrokers Limited.
In the week, FMB with 1.3 million shares changing hands lost 50 tambala to close at K6 from K6.50 per share while NBS Bank shed five tambala to close the week at K12.50 from 12.45 per share. The counter had 16 529 shares transacted.