The 14-counter Malawi Stock Exchange (MSE) continues to face supply hurdles despite considerable demand for about 71 percent of the counters, according to an analysis by FDH Stockbrokers Limited.
This is despite Mpico Limited and TNM plc registering good volumes on Friday at two million and 31 million share respectively last week.
The firm said the demand for Standard Bank, whose share price gained K4.88 to close the week at K166 per share, a three percent jump, at the back of a marginal 2 600 shares changing hands, also increased.
The bank reported a growth of 100 percent in bottom-line earnings at K8 billion in the year ended December 2012 from K4 billion, and paid K23.37 per share as total dividend in the year.
“The sound results for the bank coupled with scarcity of the stock have resulted in very good demand for the stock,” said the FDH Stockbrokers Limited commentary.
Illovo Sugar (Malawi) Limited which traded 31 776 shares gained K5.50 to close the week at K185 per share while Old Mutual plc (OML) share price jumped 4.7 percent to K900 per share with a paltry 962 shares changing hands.
The gain in OML pushed the foreign share index by 17.60 points to 1 131.18 points from 1 113.58 points, according to the MSE weekly report.
Share price gains in the three counters was not enough to offset the 17 percent share price loss in Real Insurance Company of Malawi Limited share price which shed 20 tambala to close the week at K1 per share.
The market closed with trades in counters; FMB, Illovo, Mpico Limited, National Bank of Malawi, NBS Bank, Real, Standard Bank, TNM and OML trading 33.391 million shares raising K52.8 million ($160 774.49) in 29 deals.
TNM closed the week at K125 per share.