By Chimwemwe Mangazi:
The Malawi Stock Exchange (MSE) had first three months of the year to forget as all but two counters registered price losses, resulting in a -5.8 percent return on index.
This is compared to a 17.08 percent return on index recorded in the first quarter of last year.
According to MSE First Quarter Market Performance Report, during the period, Icon Properties and Press Corporation Limited (PCL) were the only companies that registered share price gains, with 25.71 percent and 5.26 percent, respectively.
On the other hand, Standard Bank Malawi plc was the biggest loser with a -15.07 percent followed by FMB Capital Holdings plc at -15 percent and Telekom Networks Malawi plc at -10.54 percent.
National Bank of Malawi plc share price went down by -5.12 percent whereas Sunbird Tourism plc share prices went down by -4.83 percent.
Other counters whose share prices went down include Blantyre Hotels Limited, Mpico, Nico, NBS Bank and Old Mutual Malawi.
“The market registered a negative return on index as reflected in the downward movement of the Malawi All Share Index (Masi) from 28983.53 points registered on January 1 2019 to 27303.65 points registered on March 31 2019,” reads the report in part.
The market, however, recorded a 30.9 percent increase in share volumes transacted and a 39.58 percent increase in share value realised following trading of 420,679,180 shares at a total consideration of K14,164,322,236.44 in 721 trades.
The market also ended a 10-year listing drought on the main board with the listing of Icon Properties.