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Malawi Stock Exchange bearish run continues

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By Taonga Sabola:

The Malawi Stock Exchange (MSE) continued with its bearish run last week as the indicative Malawi All Share Index (Masi) took a further dip.

The Masi went down from 27445.85 points to 27 303.65 points as three counters namely Icon, Standard Bank and Nico recorded price drops.

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Icon shares shed off 7.95 percent of their price, Standard Bank stocks lost by 0.17 percent while the value Nico shares shrunk by 0.02 percent.

Alliance Stockbrokers Limited attributed the drop in prices to supply surpassing demand in the market with bidding price lower than the market price.

“However, price stability in FMB Capital Holdings and Old Mutual continued to stabilise the Foreign Share Index at 4521.94 points,” says Alliance Stockbrokers in its weekly market review.

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The market recorded a turnover of K661.77 million with Nico contributing 83 percent to the total turnover.

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