Illovo, Nico shares gain

The stock market last week saw two counters registering share price gains resulting in the upward movement of the Malawi All Share Index (Masi), the Malawi Stock Exchange (MSE) has said.

In its weekly market trading report for the week ending April 20, Nico Holdings and Illovo registered share price gains.

Nico gained 50 tambala per share to close trading at K12.50 from K12 whilst Illovo shares gained K5.00 per share as its price went up to K145 per share.

The Masi inched upwards by 96.85 points to close the week at 5808.91 points.

The Domestic Share Index increased by 77.32 points from 4508.20 points to 4585.52 points while the Foreign Share Index was steady at 576.90 points.

The market earned K72.2 million (US$435,729.11) in 17 deals following a change of hands of 2,175,620 shares.

During the week under review six counters recorded trading activities and they include First Merchant Bank, Illovo, National Bank of Malawi, NBS Bank, Nico Holdings, and National Investment Trust Limited.

On the money market during the auction held on April 17, the average yield on the 91 days T-Bills tenor decreased by 0.16 percent from 7.41 percent to 7.25 percent.

The average yield on the 182 days increased by 0.10 percent from 8.45 percent to 8.55 percent whilst the 364 days T-Bills tenor increased by 0.71 percent from 10.45 percent to 11.16 percent.

Treasury Bills maturities during the week ended April 20 amounted to K2.6 million whilst maturities for the week ending April 27, 2012 stand at K2.4 million.