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Malawi Stock Exchange buoyant in third quarter

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Noel Kadzakumanja

Investors on the Malawi Stock Exchange (MSE) have shown signs of resilience to economic challenges facing the landscape following a 1.7 percentage points’ growth in Malawi All Share Index (Masi) year-on-year during the third quarter of 2022.

A Quarterly Market Performance Report published by the MSE shows that the market registered an increase in both total value and volume of shares traded.

For example, a total of 560,112,227 shares were traded on the market at a total consideration of K14.7 billion in 1,147 trades.

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This reflects a 195.7 percent increase in share volume and a 77.13 percent increase in share value when compared to the 189,419,282 shares at a total consideration of K8.3 billion in 975 trades recorded during the same period last year.

“The market registered an average daily volume of 8,617,111 shares compared to 2,959,676 shares traded in the corresponding third quarter of 2021, reflecting an increase of 191.15 percent. The average daily turnover for the third quarter 2022 was K226.2 million compared with K129.7 million last year,” the report reads.

MSE Chief Executive Officer John Kamanga said the resilience was anchored on price appreciation in some listed firms during the review period.

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“We have seen that the market has registered an increase on Return on Investment of 9.67 percent for the quarter. The increase is as a result of share price appreciation of nine counters, with Illovo registering the highest price gainer of 63.65 percent.

“All things being equal we look forward to the last quarter with positivism considering the solid foundation that has been laid in the quarter that has just passed by. We anticipate the listing of government bonds and at least one corporate bond which we believe will kindle activity in the market,” Kamanga said.

Malawi Stockbrokers Limited Chief Executive Officer Noel Kadzakumanja said the stock market is doing well.

“The market could have probably done much better had it not been for worldwide economic challenges. We expect the positive trend to continue for the rest of the year,” Kadzakumanja said.

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