Advertisement
Business

Malawi Stock Exchange bullish in second quarter

Advertisement

 

The Malawi Stock Exchange (MSE) has showed signs of recovery from the Covid cold as it registered a positive return on index of 7.93 percent during the second quarter of 2021.

This represents a 293 percent growth when compared to the 2 percent return registered in the same period last year.

Advertisement

The market further registered an increase in total traded value and volume of shares.

A market performance report for the quarter published by MSE shows that 672,649,580 shares were traded during the period at a total consideration of K16, 989,011,304.25 in 852 trades.

This reflects a 275.10 percent increase in share volume and a 151.39 percent increase in value when compared to 179,323,974 shares traded and a consideration of K6,758,007,139.49 in 749 trades in the second quarter of last year.

Advertisement

“The market registered a positive return on index as reflected in the upward movement of the Malawi All Share Index (MASI) from 32562.96 points registered on April 1 2021 to 35144.56 points registered on June 30 2021,” reads the report.

MSE Operations Manager Kelline Kanyangala attributed the market performance to the gradual reopening of the economy considering the low Covid infection rates during the period under review.

She added that more companies published their 2020 financial results with some declaring dividends which led to some activity on the market.

“Looking ahead, we are quite aware that the Covid third wave poses a downside risk to performance of the market.

“Nonetheless, we are confident that the containment measures put in place by the Ministry of Health, which include the vaccination campaign, will bear fruit and shield the economy and general population from tragic outcomes,” Kanyangala said.

In an interview, Operations Manager for Alliance Stockbrokers Limited Thokozani Saulosi said the performance can be linked to the positive company performance of listed companies amidst the pandemic.

“The results have shown that the stock market still remains resilient to shocks,” Saulosi said.

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