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NBS BANK TOPS LISTED FIRMS IN 2ND QUARTER
NBS Bank Limited's shares registered a 40% value gain to top the 13 listed companies on the Blantyre based Malawi Stock Exchange (MSE) during the second quarter of this ye an MSE quarterly report shows.
In the report released on Friday, MSE said NBS Bank shares— which were listed on June 25 last year—jumped from K5 on April 1 to K7 each as at June 30 this year, partly triggered by improved profitability the company registered in 2007.
Three counters—Blantyre Hotels Limited (BHL), National Investment Trust Limited and Old Mutual pic—registered no price gains during the period under review.
malawi Property Investment Company (MPICO) -the newest of the listed stocks having listed last October - registered the biggest trading volume of 43,805,888 shares representing 43.35 percent of the total volume of shares traded.
In terms of value, Illovo Sugar (Malawi) Limited recorded the highest trading value of K933,072,290 representing 34.65 percent.
A total of 101,048,590 shares were transacted at the market at a total consideration of K2.6 billion (US$19.1 million) in 888 trades representing a 237.2 percent (236.9 percent in US dollar terms) increase in terms of share value and 64.71percent in terms of share volume from the corresponding period in 2007 when die market transacted a total of 61.3 million shares at a total consideration of K798.6 million (US$5.6 million) in 582 trades.
Total market capitalisation for all listed stocks rose from K1.7 trillion (US$12.675 billion) as at April 1 to K1.796 trillion (US$12.787.08 billion) as at June 30 2008 due to capital gains in some of the traded counters.
The Malawi All Share Index (Masi), the index that measures the average price movement of all counters on MSE, increased from 5,153,35 points registered in April to 5,582.72 points registered at June 30,2008, giving a return on index of 8.33 percent (year to date index return of 15.11 percent) while in US dollar terms an index return of 8.31 percent (year to date return of 14.96 percent in US$ terms).
The gains registered in NBS Bank, PIM, Sunbird, Illovo and First Merchant, among other things, were the major drivers in the increase in both the Masi and Domestic Share Index to the current levels of 5,582.72 and 4,409.31-points, respectively.
The bourse's turnover velocity, as measured by the ratio of Total Value of Trades to Market Capitalisation (TVT/MCAP), was recorded at 5.16 percent higher than the liquidity ratio of 2.22 percent registered in second, quarter 2007.