The Malawi Stock Exchange (MSE) opened trading in 2026 with a significantly improved performance compared with the first trading day of 2025, with market capitalisation rising by 247 percent and turnover increasing more than 80-fold.
Market capitalisation stood at K32.56 trillion on January 2, 2026, up from K9.38 trillion on the same day in 2025, representing a gain of K23.18 trillion.
Daily turnover surged to K711.67 billion from K782 million a year earlier, while the number of deals jumped to 1,713 from 49.
The Malawi All Share Index closed at 598,062.80 points, more than tripling from 172,039.93 points on the opening day of 2025.
The Domestic Share Index rose to 405,749.03 points from 131,362.56 points, while the Foreign Share Index increased to 158,350.47 points from 27,738.47 points.
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Trading was dominated by Telekom Networks Malawi (TNM), which recorded the highest volume at 10.86 million shares traded, compared with 168,728 shares on the first trading day of 2025.
FDH Bank followed with 349,533 shares traded, compared with 1.09 million shares a year earlier.
Counter prices showed broad appreciation. TNM closed at K31.47, up from K25.00 a year earlier. FDH Bank rose to K599.92 from K148.22, while FMB Capital Holdings climbed to K3,197.00 from K555.00.
National Bank of Malawi recorded the highest price gain, closing at K11,995.00 compared with K3,462.17 on the opening day of 2025. NBS Bank increased to K913.78 from K174.00, while NICO Holdings rose to K1,737.88 from K419.02.
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Standard Bank closed at K4,248.45 from K6,483.95, while Press Corporation rose to K8,728.11. National Investment Trust increased to K3,938.95 from K440.00.
Airtel Malawi closed at K120.74 from K90.00, while Icon stood at K16.00 compared with K18.05 a year earlier.
The weighted average dividend yield rose to 7.26 percent from 3.17 percent, while the price-to-earnings ratio increased to 40.95 from 24.94. The weighted average price-to-book value ratio rose to 14.10 from 5.98.
On the opening day of 2026, six counters recorded gains, led by Nico Holdings at 0.08 percent, followed by TNM at 0.03 percent.
Six counters recorded losses, with FMB Capital Holdings down 0.03 percent and Airtel Malawi down 0.02 percent.
In a recent interview, MSE chief operating officer Keline Kondowe said awareness of the Stock Exchange had increased in recent years as a platform for equity investment.
“With this increased awareness, we believe we have a strong foundation to grow the market, especially as we bring in more companies to list. “We are optimistic that we will build on the momentum generated in recent years to continue providing an investment avenue for the public,” Kondowe said.
