The Malawi Stock Exchange (MSE) continues with an impressive trajectory as an investment avenue of choice, posting a 13.12 percent quarterly gain in the second quarter of 2025 and a 91.77 percent return year-to-date.
This is contained in a quarterly market performance report published by MSE on Friday.
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The report further indicates that the Malawi All Share Index (Masi) closed at 329,922.87 points at the end of June, up from 291,644.54 points at the start of April.
Trading volumes exploded during the quarter, with 241.70 million shares changing hands at a total value of K132.98 billion ($76.69 million) across 8,786 transactions.
This represents a 481.60 percent increase in trading value compared to the corresponding period in 2024.
Market capitalisation also grew from K15.89 trillion to K17.96 trillion during the quarter, driven by strong share price gains and TNM’s rights issue that raised K30 billion through the listing of 1.5 billion additional shares.
NBS Bank emerged as the top performer, surging 101.14 percent during the quarter to lead 11 companies that posted gains.
Press Corporation followed with a 77.39 percent gain while Standard Bank Malawi climbed 48.31 percent.
National Investment Trust and Old Mutual rounded out the top five gainers with increases of 30.71 percent and 28.20 percent, respectively. Only four counters declined during the quarter, with FMB Capital Holdings suffering the largest loss at 16.95 percent.
Airtel Malawi, Icon Properties and Illovo Sugar posted modest declines. In an interview, Stockbrokers Malawi Limited Equity Market Analyst Kondwani Makwakwa said the first half of 2025 has generally been strong for the Masi, which measures the performance of the market. He said such growth was mainly driven by significant price increases across many listed companies, fuelled by expectations of good half-year results — a trend also reflected in several trading statements released.
“The strong market performance is attracting more public interest, increasing demand and pushing prices higher,” Makwakwa said. MSE Chief Operating Officer Kelline Kondowe attributed the strong first-half performance to robust market demand and positive company outlooks, particularly in the banking sector.
“When we look at the banking sector specifically, we have noted, over the past couple of years, that the banking sector has registered strong performance and we believe this has really increased demand for banking sector stocks,” Kondowe said.
