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Malawi All Share Index stuck

Malawi's scale of trading on its Malawi Stock Exchange (MSE), the Malawi All Share Index (MASI) has not shown any activity for the last four weeks raising more fears on its performance; the local shares market has not registered significant share price gains since the beginning of this year.

By Gregory Gondwe

20 Jul 2009

MSE operations manager John Kamanga said despite registering negative returns in the second quarter covering April to June, they still see light at the end of the tunnel, hoping to pick up the pieces in the third and fourth quarter.

In a report detailing activities on the market up to 10 July 2009 there are all indications of non-movement in prices of all listed counters traded as the MASI has remained at 4 952.11 points.

Nonetheless, trading activities registered during the period involved eight counters of Press Corporation Limited (PCL), TNM plc, Standard Bank, Real Insurance, Illovo Sugar, Malawi Property Investment Company (MPICO), National Bank of Malawi and NBS Bank.

The weekly market report showed that a total of 2.8 million shares were traded during the week raising about US$92 373.93 in 29 deals.

Gregory Gondwe

About Gregory Gondwe

Gregory Gondwe is a Malawian journalist who started writing in 1993. He is also a media consultant assisting several international journalists pursuing assignments in Malawi. He holds a Diploma and an Intermediate Certificate in Journalism among other media-related certificates. He can be contacted on moc.liamg@ewdnogyrogerg. Follow him on Twitter at @Kalipochi.