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Stock market rakes in K763.5bn

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The stock market was bullish in November recording a turnover of K763.5 billion after 14.3 million shares exchanged hands.
This represents a return on investment of 5.35 percent despite a decrease in both traded value and volume.
The market also registered a positive return on index as reflected in the upward movement of the Malawi All Share Index from 20049.06 in October to 21122.43 in November.
A statement from the market shows that, in the period under review, share price gains in FMB Capital Holdings, FMB, National Bank of Malawi, Standard Bank and Sunbird Hotels were enough to offset share price losses registered by NBS Bank, NITL and TNM.
The average daily turnover for November was K36.3 million compared to K1.3 billion in 2017, reflecting a decrease of 63.78 percent.
The turnover velocity— measured by the ratio of total value of trades to market capitalisation, an indicator of the liquidity of assets traded on the market in November 2017-— was recorded at 0.07 percent lower than 0.21 percent in October.

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