The Malawi Stock Exchange (MSE) transacted business worth K1.4 billion [$4.3m] in August out of 412.3 million shares, a 57.2 percent jump from K934.7 million [$2.8m] out of 415.4 million shares in July, the local shares market’s monthly report has shown.
However, this is a drop of 0.76 percent in terms of share volume when 412.3 million shares changed hand, a drop from the previous month’s 415.4 million shares.
Last year August, the market raised K303.8 million [$1m] out of 5.4 million shares, according to the report.
Overall, the 14-counter market registered a positive return on index of 35.84 percent [33.1 percent in dollar terms] closing the Malawi All Share Index (Masi)—the overall measure of market performance—at a record high of 9 884.95 points compared to 7 277 points in July.
“The market also recorded an increase in value traded but registered a decrease in traded volume compared to the previous month of July 2013,” said the monthly report.
Shares transacted on a daily basis were 19.6 million, a slight drop from 19.7 million shares in July with the average daily turnover in August at K70 million [$207 296.26] compared to K44.5 million [$133 697.21] the month before, an increase of 57.27 percent [55.05 percent in dollar terms].