Figures from the first week of May show that there has been an increase in the share prices of TNM, NICO and BHL, marking a hopeful month for the Malawi Stock Exchange (MSE), as the year begun poorly.
The first week of May, figures dating from 3rd to 10th have shown that the market recorded a 2.40% increase in MASI closing at 27 783.20. The increase in MASI saw share price increase in TNM (MK2.56), NICO (MK3.98) and BHL (MK0.45) which led to a 2.89% increase in the DSI. Reads a report from Alliance Stockbrokers, “The FSI has continued to be stable in the second quarter of the year. The market has recorded a turnover of MK1.3 billion an increase from MK 1.217 billion recorded in the previous week.”
These results in the second quarter of 2019 are hopeful, as no share price drops have been recorded in the week studied. The first first quarter posted price drops, namely Standard Bank Malawi plc with -15.07% followed by FMB Capital Holdings plc at -15% and Telekom Networks Malawi plc at -10.54%.
National Bank of Malawi plc share price went down by -5.12% whereas Sunbird Tourism plc share prices went down by -4.83%.
Other counters whose share prices went down in the first quarter, were Blantyre Hotels Limited, Mpico, Nico, NBS Bank and Old Mutual Malawi.