Malawi Stock Exchange starts 2021 on high
Trading on the Malawi Stock Exchange (MSE) started on a high on the opening day of the market in the New Year, on Monday, witnessed by increased trade and volumes when compared to the opening day last year.
There was trade on four counters on the opening day namely Airtel Malawi which recorded transactions of 40,000 shares at K27.90 per share; National Bank of Malawi with transactions of 500 shares at K650 per share, and; 352,170 shares for NBS Bank were traded at K20.75 per share.
TNM also registered trading of 50,000 shares at K20.05 per share.
This translates to a total of 442,670 shares traded on the day representing a 3381 percent increase when compared to 12,715 shares that were traded on the opening day in 2020 from two transactions on NBM and Nico counters.
However, a 3.9 percent price loss was registered on NBS Bank share prices from the previous traded price of K21.60 whereas TNM registered a 0.1 percent drop in price from K20.07.The Malawi all shere Index (Masi) also moved to 32,342.92 points from 32,392.84 points recorded on December 31, 2020.
Commenting on the development, Operations Manager for Alliance Stockbrokers Limited Thokozani Saulosi said investors are usually sceptical during the first days of the year.
“…this is associated with the anticipation of companies’ trading statements which delay investment decisions. However, we have noticed an increase in the traded value in 2021 in comparison to the value traded in the previous year, which is encouraging,” Saulosi said.
The market performed exceptionally well in the previous year having registered a 3.22 percent return on the Masi between January and November.
