Malawi stock Exchange bullish in April
The stock market for the month of April has been bullish in terms of share price gains, the Malawi stock Exchange (MSE) monthly report has said.
The market indicated that the month saw the share price index gaining 4.30 percent compared to a monthly return on index of 2.63 percent registered in March.
The report said equity trading increased in both traded value and volume, during the period under review.
The period saw a total of 1.6 billion shares transacted in the month of April 2015 at a total consideration of K31.2 billion (US$70.8 million) as compared to K722.9 million earned same time last year.
During the month of March, the market transacted a total of 19.6 million shares at a total consideration of K229 million in 113 trades.
“This reflects a 8058.42 percent increase in terms of share volume and 13524.54 percent increase in share value. The increase in volume and value was mainly driven by the block transaction in FMB as a result of internal shareholding restructuring,” said the report.
The market registered an average daily volume of 76.4 million shares in April 2015 compared to 937,661 shares in March 2015.
The market registered a positive return on index as reflected in the upward movement of the Malawi All Share Index (MASI) from 15364.50 points registered on March 31, 2015 to 16024.62 points registered on April 30, 2015.
The report further said price gains registered by six counters, National Bank of Malawi, NBS Bank, National Investment Trust Ltd, Press Corporation, Standard Bank Malawi and TNM were the major drivers resulting into an increase in the Domestic Share Index by 4.34 percent from 12100.77 points to 12625.84 points.
The Foreign Share Index, however, was steady at 1762.13 points.