Advertisement
Business

Malawi Stock Exchange maintains positive trajectory in November

Advertisement

The Malawi Stock Exchange (MSE) continued with its positive run in November, having recorded a month-on-month return on index of 8.63 percent.

According to the MSE Monthly Market Report, the local bourse registered an increase in both total traded value and volume of shares.

During the month under review, the market listed 21 government securities comprising two development bonds and 19 Treasury notes with a total nominal value of K1.12 trillion on the debt securities board.

Advertisement

“The market transacted a total of 398,835,494 shares at a total consideration of K11,585,531,346.72 in 493 trades in the month of November 2022. In the previous month of October 2022, the market transacted a total of 68,420,228 shares at a total consideration of K5,682,569,869.60 in 506 trades.

“This reflects a 482.92 percent increase in terms of share volume traded and a 103.88 percent increase in share value traded. Of the shares traded, 51.05 million NBS shares traded as negotiated deals at a total consideration of K1.12 billion. Daily average share trades exhibited similar trends where the market registered an average daily volume of 19,941,775 shares compared to 3,421,011 shares traded in October 2022, reflecting an increase of 482.92 percent,” the report reads.

MSE Chief Operations Officer Keline Kanyangala said the performance points to a good result for the year.

Advertisement

“The only setback in the year was the time we had that Kwacha devaluation but we are glad that the market managed to move on to such performances as witnessed in November,” Kanyangala said.

Malawi Stockbrokers Limited Chief Executive Officer Noel Kadzakumanja said the stock market has so far posted a positive performance.

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