The Malawi Stock Exchange (MSE) was buoyant in the second quarter (Q2), achieving a quarterly return on index of 4.9 percent, up from 2.01 percent in the first quarter and raising K6.2 billion in shares transactions.
However, on a year-to-year basis, the return on index is lower than what was achieved during the same period last year of 8.9 percent, according to the report.
“It also recorded an increase in both traded and value in the second quarter 2014 compared to the second quarter 2013. In dollar terms, the index gained 8.7 percent as a result of the appreciation of the kwacha in the period under review,” reads part of the second quarter market report for April to July 2014.
During the quarter, the report shows that May registered the highest in terms of both value at K4.9 billion ($12.3 million) and volume of 1.4 billion shares.
In terms of trade performance, the 14-counter market transacted a total of 1.5 billion shares at K6.2 billion ($15.7 billion) in 398 trades, said the report.
In the prior period in 2013, the market transacted one billion shares, raising K2.1 billion ($5.5 million) in 290 trades. This reflects a 50.20 percent increase in terms of share volume and 197.04 percent (184.08 percent dollar terms) increase in share value, according to the report.
“Daily average share trades exhibited similar trends; the market registered an average daily volume of 24.9 million shares compared to 16.6 million shares traded in the corresponding second quarter of 2013,” reads the report.
It said the average daily turnover for the second quarter 2014 was K100.8 million ($253 622.74) compared with K33.9 million ($89 278.87) for the corresponding second quarter 2013, representing an increase of 197.04 percent (184.08 percent in dollar terms).
In the review period, 11 counters were the top gainers leading by TNM, representing a 41.67 percent gain. NBS Bank was the only loser in the period, according to the report with a loss of 3.13 percent whereas Blantyre Hotels Limited and FMB registered no share price movement.
TNM, accounting for a total of 98.8 percent and trading 1.5 billion shares, was the biggest traded stock by volume followed by NBS Bank with 4.3 million shares, representing 0.28 percent with least recorded in Mpico Limited at 0.16 percent transacting 2.5 million shares. n