MSE marginally bearish
The local bourse, the Malawi Stock Exchange (MSE), marginally lost ground last week due to FMB’s share price loss by K2.
Available data indicate that the MSE was marginally bearish last week with the Malawi All Share Index (Masi) having decreased by 107.34 points to settle at 13 089.06 points.
According to the available data, the loss is attributed to price loss on FMB from K17 to K15. This was, however, despite the share price gains in National Bank of Malawi (NBM)from K227.90 to K228 NITL from K31.54 to K32 and PCL from K310.60 to K311.
As a result of the price gains and loss, the Domestic Share Index (DSI) settled at 10 294.49 points from 10 379.88 points in the previous week whilst the Foreign Share Index (FSI) was stable at 1 709.34 points.
A total volume of 8 153,423 shares were transacted during the week at a total consideration of K41.1 million in 36 deals.
Recently, FMB announced a 75.3 percent increase in profit after tax to K5.99 billion for the year ended December 2013. The bank also declared a second interim dividend of 30 tambala per share compared to 10 tambala in 2012 to be paid on 17 April 2014 and a proposed final dividend of 10 tambala per share compared to five tambala in 2012 subject to the board’s approval.
