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Malawi Stock Exchange bearish in January

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The Malawi Stock Exchange (MSE) continued to be bearish in January as evidenced by the drop in share volume and price.

This has been reported in the exchanges monthly performance report.

According to the report, the market registered a negative return on index as reflected in the downward movement of the Malawi All Share Index (Masi) from 13320.51 points registered in December 2016 to 13127.73 points registered in January 2017.

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This gave a return on index of –1.45 percent, (-1.45 percent in dollar terms).

“The price gains registered by Blantyre Hotels Limited, Malawi Property Investment Company and TNM Limited were not enough to offset share price losses registered by FMB, Illovo and National Investment Trust Limited resulting into a downward movement of the Malawi All Share Index, arising from a decrease in the Domestic Share Index (-1.47 percent),” reads part of the report.

It further indicated that during the period under review, the market transacted a total of 9,462,616 shares at a total consideration of K299 million ($412,890.94) in 100 trades.

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According to the report, in December 2016, the market transacted a total of 187,888,673 shares at a total consideration of K1.6 billion ($2,214,021.51) in 66 trades reflecting a 94.96 percent decrease in terms of share volume and an 81.35 percent (-81.35 percent in US Dollar terms) decrease in share value.

The report also said the daily average share trades exhibited similar trends where the market registered an average daily volume of 450,601 shares compared to 8,947,080 shares traded in December 2016.

“The average daily turnover for January 2017 was K14.2million compared to K76.4 million in December 2016, reflecting a decrease of 81.35 percent,” reads the report.

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