NITL, Standard Bank push up Masi
The country’s only stock market, the Malawi Stock Exchange (MSE), was marginally bullish during the week ending December 13 due to increases in the National Investment Trust Limited (NITL) and Standard Bank share prices.
The MSE indicates that the share price of NITL increased from K27.70 to K29.50 while Standard Bank share price from K386 to K400, consequently pushing up the Malawi All Share Index (Masi) by 76.50. The Masi settled at 12 531.04 points from 12 454.53 points at the end of the previous week.
NITL last week announced that its 2013 profit after tax rose to K2.3 billion from K0.8 billion in 2012 buoyed by revaluation surpluses and growth in dividend income.
During the week under review, 1.7 million shares were transacted at a total consideration of K69 million in 34 deals. In the previous week, a marginally bullish MSE transacted 1.3 million shares at a total consideration of K50 million in 34 deals
In the week ending December 6, the Masi increased by 37.93 points to settle at 12 454.53 points propelled by share price gains of National Bank of Malawi, Nico Holdings Limited, Standard Bank and Old Mutual.
