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Weekly trades yield K7m
By
Our Reporter - 03-02-2003 |
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Over 500,000 shares changed hands on the local bourse last week in two counters from four deals, raising about K6.6 million, the Malawi Stock Exchange (MSE) said on Friday.
MSE said in its weekly market commentary that conglomerate Press Corporation (PCL) alone traded 500,000 shares at K13 per share while Sugar Corporation of Malawi (Sucoma) had 15,900 shares changing hands at K3.80 each.
Malawi All Share Index (Masi) —a barometer that measures trade activities on the local bourse—slightly decreased by six basis points to close the week under review at 313.34 points from 313.60 points, according to the weekly report.
MSE said the decrease in the Masi is a result of a decrease in the Domestic Share Index from 233.33 points to 231.55 owing to the decrease in the share price of Sucoma to K3.80 from K3.90. Last year, Masi recorded an overall loss of 31.68 percent.
The Foreign Share Index (FSI) was, however, steady at 128.20 points. In the year 2002, the FSI, represented by Old Mutual Limited (OML), registered an overall loss of 32 percent.
On Treasury Bills—instruments used by government to borrow locally—MSE said the average yield on the 91-day T-bill increased from 37.31 percent to 37.83 percent.
It said the 182-day tenor interest increased from 38.04 percent to 38.22 percent while yields on the 273-day T-bill increased from 38.33 percent to 38.39 percent.
In the RBM bills primary market whose auction was held on January 21, interest on the 63-day bills increased from 36.28 percent to 36.79 percent while the 91 days yield increased from 36.94 percent to 37.02 percent.
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