Five companies register drop on stock market in October

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At least five companies registered a drop in their share price at the stock market in the month of October.

This has been revealed by the managers of the Malawi Stock Exchange (MSE).

In their monthly report for the said period, only four companies gained in share prices while 5 dropped and the remaining four registered no price movement at all.

Meanwhile the stock market transacted business to the tune of MK5.8 Billion Kwacha within the said month.

The number of counters with share price loss is on the higher side compared to the previous month where only a single company registered a decline in its share price.

The five are TNM, Illovo, FMB- now First Capital Bank, Capital Holdings, NICO and NITL.

However this does not mean that the said companies did not do well as some of them despite the downward share price movements managed to register high traffic on their counters.

For example Illovo traded in excess of 16 million shares in the value of MK2.7 billion while FMBCH traded 14 .2 million shares at the value of MK1.9 billion.

TNM on the other hand, sold 4 .1 million shares but fell short on leading in value of share sold owing to its share price position on the market.

According to MSE the price losses registered by the 5 companies were enough to offset share price gains in the other four counters namely PCL, NBS, BHL and NBM.

This has since resulted in the drop of the Malawi All Share Index (MASI).

The Domestic Share Index and the Foreign Share Index fell by 3.16% and 11.57% respectively.

Generally, the stock market however performed well considering the number of trade volumes as they have gone from 238 in September to 281 in October.

 

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