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Malawi Stock Exchange remains upbeat on market outlook

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UPBEAT—Kanyangala

The Malawi Stock Exchange (MSE) is confident that trading activities at the local bourse would pick up in coming months as listed companies continue issuing statements of business performance and outlook.

This comes as the stock market registered a month-on-month return on index of –1.23 percent in May, which translates into a -2.54 percent on a year-on-year basis.

An MSE Monthly Performance report shows that the Malawi All Share Index (Masi) went down to 28501.97 points in May 2020 from 28857.39 points registered in the preceding month.

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“The price gains

registered by NBS at 25 percent and Standard Bank at 1.11 percent were not enough to offset share price losses registered by TNM at 11.96 percent, Icon properties at 0.48 percent and Nico at 0.02 percent, resulting into a downward movement of the Malawi All Share Index,” reads part of the report.

The Domestic and Foreign Share Indices closed the month at 23780.75 and 1993.51 points respectively.

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The report further indicates that the market transacted a total of 100,211,589 shares at a total consideration of K3 billion in 273 trades.

This means the market registered a 595.87 percent increase in volumes traded and 25.43 percent increase in value when compared to 14,400,820 shares traded in 177 trades at a consideration of K2.38 billion in April.

In an interview Sunday, MSE Operations Manager, Kelline Kanyangala, said market performance is being affected Covid-19 pandemic coupled with the prolonged political impasse.

She said in May, trading activity, however, improved.

“Investors are now getting insights and statistics of how the economy is going to perform in 2020 in light of the pandemic and they are able to make investment decisions based on this,” Kanyangala said.

She said the local bourse would continue registering sustained increase in trading activity going forward.

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