MSE index up OML, NBM shares gain
The shares gain in National Bank of Malawi (NBM) and Old Mutual plc (OML) pushed the indicative all share index by 21.4 points buoyed by a rise in both domestic and foreign counters’ indices, the local equity market report has shown.
The domestic share and foreign share indices jumped by 21.40 points and 14.83 points respectively.
TNM plc lost 10 tambala to trade at K1.30 and traded five million shares, which was not enough to pull down the overall market index.
OML, the only foreign counter on the MSE, gained K20 to close the week at K700 per share with only 262 shares changing hands while NBM closed the week at K60.48 per share, a 6.7 percent rise, with more than 63 000 shares transacted.
In the week, the market recorded trading activity in five counters; Mpico Limited, NBM, NBS Bank, TNM plc and OML, according to the report.
This transaction resulted in nine million shares changing hands raking in K32.3 million ($90,252.48) in 12 deals.
The 14-counter local bourse, one of the tiny markets in the sub-Saharan Africa, has 23 million share on issue.
Over the past four years, the market has not attracted any new listing since it registered TNM plc.
