MONTHLY MARKET REPORT NOVEMBER 2017

Transcription

1 MONTHLY MARKET REPORT NOVEMBER 2017 Old Reserve Bank Building, Victoria Avenue P/Bag 270 Blantyre Malawi Telephone: (265) ; Fax: (265) Website: Malawi s global portal

2 CO NTENT S Trading Summary 1 Market performance 2 Trade performance analysis 2 Market capitalization and index 2 Market liquidity 2 Company trading performance 3 Bond 4 Economic review 5

3 1. E Q U I T Y T R A D I N G S U M M A R Y The market was bullish in the month of November 2017 as it registered a positive return on investment of 5.35% (5.35% in US$ terms) despite registering a decrease in both total traded value and total traded volume. Index Levels and Return November 2017 INDEX NOVEMBER, 2017 OCTOBER, 2017 Monthly 2017 Monthly 2016 % YTD MASI DSI FSI Trading Statistics November 2017 November 2017 October 2017 Monthly November 2016 Y-O-Y % % Traded Value (MK) 763,567, ,108,221, ,385,112, Traded Value (US$) 1,052, ,905, ,928, Traded Vol. Shares 14,395,164 60,346, ,318, No. of Transactions Index Close (MASI) Listed companies Traded Companies Not Traded Companies Gainers Decliners Unchanged

4 2. M A R K E T P E R F O R M A N C E A. Trade Performance Analysis The market transacted a total of 14,395,164 shares at a total consideration of MK763,567, (US$1,052,248.84) in 93 trades. In the previous month, October 2017, the market transacted a total of 60,346,580 shares at a total consideration of MK2,108,221, (US$2,905,267.43) in 117 trades. This reflects a 76.15% decrease in terms of share volume and a 63.78% (63.78% in US Dollar terms) decrease in share value. Daily average share trades exhibited similar trends where the market registered an average daily volume of 685,484 shares compared to 2,873,647 shares traded in October The average daily turnover for November 2017 was MK36,360, (US$50,107.09) compared to MK100,391, (US$138,346.07) in October 2017, reflecting a decrease of 63.78% (63.78% in US Dollar terms). B. Market Capitalization and Index The market registered a positive return on index as reflected in the upward movement of the Malawi All Share Index (MASI) from points registered in October 2017 to points registered in November 2017, giving a return on index of 5.35% (5.35% in US$ terms). The price gains registered by FMBCH, FMB, NBM, STANDARD and SUNBIRD were enough to offset share price losses registered by NBS, NITL and TNM resulting into an upward movement of the Malawi All Share Index, arising from an increase in both the Domestic Share Index (0.57%) and the Foreign Share Index (42.09%). Market capitalization increased in both Kwacha and United States Dollar terms from MK989, million (US$1, mln) in October 2017 to MK1,042, million (US$1, mln) in November C. Market Liquidity The turnover velocity measured by the ratio of Total Value of Trades to Market Capitalisation (TVT/MCAP*), an indicator of the liquidity of assets traded on the market, in November 2017 was recorded at 0.07%, lower than 0.21% registered in October The ratio of Total Value of Trades to Gross Domestic Product (TVT/GDP) recorded a liquidity level of 0.02% in November 2017 while during the previous month, October 2017, liquidity was at 0.05%.

5 2. M A R K E T P E R F O R M A N C E

6 3. C O M P A N Y T R A D I N G P E R F O R M A N C E A. Top gainers: Five counters registered capital gains MSE CODE COUNTER NAME % GAIN FMBCH FMB Capital Holdings plc SUNBIRD Sunbird Tourism plc FMB FMB Bank plc 6.64 STANDARD Standard Bank Malawi plc 1.67 NBM National Bank of Malawi plc 0.02 B. Top Losers: Three counters registered capital gains MSE CODE COUNTER NAME % LOSS TNM Telekom Networks Malawi plc 6.93 NBS NBS Bank plc 6.67 NITL National Investments Trust plc 0.03 C. Top Five Traded Stocks by volume MSE CODE COUNTER NAME SHARES % of Total TNM Telekom Networks Malawi plc 9,021, FMBCH FMB Capital Holdings plc 1,725, NBS NBS Bank plc 1,700, ILLOVO Illovo Sugar Malawi plc 1,153, STANDARD Standard Bank Malawi plc 326, D. Top Five Traded Stocks by value MSE CODE COUNTER NAME VALUE % of Total ILLOVO Illovo Sugar Malawi plc 276,806, STANDARD Standard Bank Malawi plc 198,771, TNM Telekom Networks Malawi plc 117,634, FMBCH FMB Capital Holdings plc 89,642, NBM National Bank of Malawi plc 42,281,

7 3. C O M P A N Y T R A D I N G P E R F O R M A N C E COUNTER HIGH (MK) LOW (MK) Earnings Yield (%) P/E P/BV MKT CAP (MK Mln) MKT CAP (US$ Mln) BHL , FMBCH , FMB , ILLOVO , MPICO , NBM , NBS N/A N/A , NICO , NITL N/A N/A , PCL , STANDARD , SUNBIRD TNM , OML 1, , ,

8 3. C O M P A N Y T R A D I N G P E R F O R M A N C E Company Opening Price Closing Price % Price Change Share Vol. Traded % Traded Value Traded MK BHL % % 0.00 FMBCH % 1,725, % 89,642, FMB % 1, % 84, ILLOVO % 1,153, % 276,806, MPICO % 55, % 868, NBM % 156, % 42,281, NBS % 1,700, % 12,626, NICO % 64, % 2,206, NITL % 20, % 1,201, PCL % 4, % 2,394, STANDARD % 326, % 198,771, SUNBIRD % 163, % 15,576, TNM % 9,021, % 117,634, OML PLC % 1, % 3,474, ,395, % 763,567,556.43

9 4. B O N D T R A D I N G S U M M A R Y B O N D M A T U R I T Y D A T E C O U P O N D A T E COUPON RATE (%) N O M I N A L V A L U E ( M K MN) TN02YR August Feb & 31 Aug 11 20, Total Outstanding Treasury notes 20,000.00

10 5. E C O N O M I C R E V I E W Interest Rates During the period under review, the yield on the 91 days T-bill, the 182 days T-bill and the 364 days T-bill inched upwards from 12.92% to 14.88%, from 14.49% to 15.50% and from 14.73% to 16.00% respectively. Exchange Rates The Kwacha was stable against the United States Dollar in the period under review. Gross official reserves marginally decreased from 3.65 months of import cover on 31 October 2017 to 3.62 months of import cover on 30 November Inflation Rates Headline inflation eased by 0.1 percentage point from 8.4% in September, 2017 to 8.3% in October, Monetary Policy Rate The Monetary Policy Committee at its meeting held on 27 and 28 September, 2017 maintained the policy rate at 18%.

11 CONTACTS AND ADDRESSES OF MSE STOCK BROKERS Stockbrokers Malawi Limited NBM Business Complex P.O Box Blantyre Tel: Fax: sml@smlmw.com Continental Capital Limited 1st Floor, Unit House P.O Box 1444 Blantyre Tel: capital@continental.mw capital@cdh-malawi.com African Alliance Securities 4th Floor, Livingstone Towers P.O Box 3340 Blantyre Tel: Fax: kamphonia@cedarcapital.mw