The Malawi Stock Exchange (MSE) maintained a positive performance during the third quarter of this year as the market registered a positive return on index of 8.99 performance, representing 2.90 percent in dollar terms.
The performance comes despite the market registering a decrease in total volume of shares traded during the period under review.
In its third quarter market report, MSE says a total of 156,942,781 shares were transacted during the quarter, compared to a total of 560,112,227 shares during the corresponding period in 2022, reflecting a –71.98 percent decrease in terms of share volume traded.
The market was able to transact K23.7 billion ($21.8 million) in 3,334 trades, representing a 61.77 percent (52.32 percent in dollar terms) from K14.7 billion ($14,325,535.15) in 1,147 trades.
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This means that the market had little transacted shares at higher prices than it was last year.
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The report adds that daily average share trades exhibited similar trends where the market registered an average daily volume of 2,452,231 shares compared to 8,617,111 shares traded in the corresponding third quarter of 2022, reflecting a decrease of –71.54 percent.
“The average daily turnover for the third quarter 2023 was K371, 662,375.32 ($340,941.23) compared with K226, 218,889.29 ($220,392.85) for the corresponding third quarter 2022, reflecting an increase of 64.29 percent (54.70 percent in US Dollar terms),” the report reads.
Malawi Stock Exchange Chief Executive Officer John Kamanga said market outlook is promising.
“That is why we keep advising firms and individuals to invest in the market because it is a great place to hedge against inflation, realize wealth and grow assets even in turbulent economic times,” Kamanga said.
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MSE has 16 counters, with the banking sector commanding the majority.
