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Malawi Stock Exchange maintains positive trajectory in October

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Noel Kadzakumanja

The Malawi Stock Exchange (MSE) continued its positive run in the month of October following a 1.21 percent month-on-month return on index.

However, the local bourse has dropped 8 percentage points in the year-to-date when compared to the same period last year.

A Monthly Market Performance report published by the MSE indicates that the market registered an upward movement of the Malawi All Share Index (Masi) to 55046.26 points in October from 54389.92 points registered in September 2022.

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This means that the net gain on share prices among listed companies was greater that the net loss.

For example, share price rise for Sunbird was recorded at 15.01 percent, Nitel at 11.61 percent, National Bank at 6.03 percent while Airtel, Standard Bank, FMB Capital Holdings and Illovo Sugar Malawi registered marginal share price gains at below 1 percent.

However share price losses were recorded by Old Mutual Malawi, FDH Bank and NBS Bank.

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“The Domestic Share Index inched upwards by 1.41 percent to 44986.52 points whilst the Foreign Share Index fell by 1.05 percent to 5100.84 points. Market capitalization increased in Kwacha and terms from K2.94 trillion to K2.97 trillion.

“The market transacted a total of 68,420,228 shares at a total consideration of K5.6 billion K5,682,569,869.60 in 506 trades in the month of October 2022. In the previous month of September 2022, the market transacted a total of 157,186,600 shares at a total consideration of K4,553,887,613.16 in 391 trades. This reflects a –56.47 percent decrease in terms of share volume traded and a 24.79 percent increase in share value traded,” the report reads.

Stock Brokers Malawi Limited Chief Executive Officer Noel Kadzakumanja said the drop in return year to date is attributable to the prevailing economic woes.

“In the light of current economic challenges, the market is still doing better and there is hope that it will close on a positive note as the year ends,” Kadzakumanja said.

MSE Chief Executive Officer John Kamanga said the performance was due to increased demand and competition for shares on the market.

“The volume of shares traded reduced as compared to last month which drove intense competition among buyers which further reflected in the increase in share prices,” Kamanga said.

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