Stocks close high in Q1, raise K727million
Malawi Stock Exchange (MSE) registered an increase in trading activity in the first-quarter (January-March) when 37.4 billion shares changed hands in 270 trades during the period, raising K727.6 million.
This is a jump from 9.6 billion shares transacted at a total consideration of K295 million in 218 trades in the corresponding period last year, a 286 percent jump in volume terms and 145 percent in value terms.
The 13-counter MSE, in its market report for first-quarter said daily average share trades exhibited similar trends where the market registered an average daily volume of 603 487 shares compared to 156 339 shares traded in the similar period last year.
According to the report, January and March registered the highest in terms of value at K299 million and volume at 15 057.
During the period under review, the market also registered a positive return on index as reflected in the upward movement of the Malawi All Share Index (Masi) to 14577 points as at March 31, from 13320 points registered onJanuary 1, giving a 9.4 percent.
The price gains registered by Blantyre Hotels Limited, Illovo, Mpico, Standard Bank, Telekom Networks Malawi (TNM) and Old Mutual Limited were enough to offset the share price losses registered by FMB, Nico Holdings and Nitl.
Market capitalisation also increased both in kwacha and United States dollar terms from K577 million in January 2017 to K632 million in March 2017.
Commenting on the performance, MSE operations manager Esnat Chilije said the move could be an indication that the market is now on recovery.
“The outlook is positive. With interest rate going down the stock market may become more competitive as an investment avenue for investors,” she said.
