Advertisement
Business

Experts predict share hoarding

Advertisement

Money market experts have predicted that the number of shares traded on the market may continue to decline in coming months as shareholders anticipate earnings from dividends.

This follows revelations that the number of shares changing hands on the Malawi Stock Exchange declined by 54.7 percent in February.

A Monthly Market Performance report published by MSE Monday shows that the market transacted a total of 28,502,923 shares at a total consideration of K2.8 billion in 507 trades in February, a decline from the 62,928,670 shares sold at K2.3 billion in 439 trades recorded in January.

Advertisement

However, the market registered a positive return on index as reflected in the upward movement of the Malawi All Share Index (Masi) to 71,069.31 points in February from 68,451.77 points in January, giving a month-on-month return on index of 3.82 percent.

Daily average share trades exhibited similar trends, where the market registered an average daily volume of 1,425,125 shares compared to 3,146,434 shares traded in January. The average daily turnover for February 2023 was K140.5 million compared to K115.8 million in January.

In an interview, Stockbrokers Malawi Limited Chief Executive Officer Noel Kadzakumanja said despite the drop in the sales, the market performed relatively well in the month under review.

Advertisement

Minority Shareholders Association of Listed Companies General Secretary Frank Harawa said the increase in trades witnessed in January was perpetuated by trading statements that showed most companies are poised to make substantial profit.

MSE Chief Operating Officer Keline Kondowe said the “market started the year on a good note” amid economic volatility.

Facebook Notice for EU! You need to login to view and post FB Comments!
Advertisement
Tags
Show More
Advertisement

Related Articles

Back to top button
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker