The Malawi Stock Exchange (MSE) maintained its bullish run in August 2023 registering a 73.37 percent increase in share volume and 39.26 percent rise in share value.
A monthly market report published on Friday indicates that in the month, the market transacted a total of 64.9 million shares at a total consideration of K7.8 billion in 1,274 trades.
This is compared to the 37.4 million shares at a total consideration of K5.6 billion in 947 trades recorded in the previous month.
The report further indicates that daily average share trades exhibited similar trends where the market registered an average daily volume of 2,824,665 shares compared to 1,784,472 shares traded in July, reflecting an increase of 58.29 percent.
“The market registered a positive return on index as reflected in the upward movement of the Malawi All Share Index (Masi) from 112,497.02 points registered in July 2023 to 119,077.99 points registered in August 2023, giving a month-on-month return on index of 5.85 percent.
- Advertisement -
“Equity market capitalisation increased in both Malawi Kwacha and US Dollar terms from K6.07 trillion ($5.76 billion) to K6.44 trillion ($5.94 billion),” the report reads.
In an interview, MSE Chief Operating Officer Keline Kondowe said market performance in August was satisfactory.
“Looking ahead, we anticipate that the market will continue to perform well looking at the demand that is currently present on the market on different counters,” Kondowe said.
Market analyst Kondwani Makwakwa said the good performance was expected as the closed period in most counters is now over after the release of half-year financial results by listed companies.
- Advertisement -
- Advertisement -
In a separate interview, Minority Shareholders Association of Listed Companies General Secretary Frank Harawa said shareholders are excited with the performance and expect more in the remaining months of the year and beyond.
