The K1 share price drop in National Bank of Malawi (NBM) to K55 on the Malawi Stock Exchange (MSE) last week was enough to drop the indicative all share index by 6.01 points.
This is despite a K1 share price gain in Standard Bank to K121, according to a market report for the week ending November 16 2012.
Market analysts attribute the share price gain in Standard Bank on the back of 17 561 traded shares to “persistently high demand [for the stock] against insufficient supplyâ€.
NBM lost some ground, with 615 426 shares changing hands as the counter experiences demand drought despite its good fundamentals, according to FDH Stockbrokers Limited market report.
During the week, the market raked in K39.39 million ($121 414.99) from last week’s K88 million from activity on five counters; FMB, Illovo Sugar (Malawi) Limited, NBM, National Investment Trust Limited and Standard Bank.
With the activity on the MSE, Malawi All Share Index (Masi) went down by 6.01 points to close the week at 5879.83 points due to a decrease in the Domestic Share Index (DSI), the domestic counters’ gauge, by 4.80 points from 4631.02 points to 4626.22 points.
