Malawi Stock Exchange second quarter share trading up 232%

The Malawi Stock Exchange (MSE) said it continued beating its record high since inception in the second quarter of 2013 by registering trading totalling 1.030 billion shares transacted at a total consideration of K2.1 billion (US$5,535,290.03) in 268 trades.

The quarter which spanned from 1st April to 30th June, 2013 stands out highly compared with the corresponding period 2012 when the market transacted a total of 309.7 million shares at a total consideration of K1.1 billion (US$4,777,469.38) in 290 trades.

A report from MSE says the jump reflects a 232.65 percent increase in terms of share volume and an 81.89 percent (15.86 percent in US Dollar terms) increase in share value.

“Daily average share trades exhibited similar trends; the market registered an average daily volume of 16,618,065 shares compared to 4,995,711 shares traded in the corresponding second quarter of 2012.

Malawi Stock Exchange
Malawi Stock Exchang

“The average daily turnover for the second quarter 2013 was K33,946,836.69 (US$89,278.87) compared with K18,663,712.15 (US$77,055.96) for the corresponding second quarter 2012, reflecting an increase of 81.89% (15.86% in US Dollar terms),” MSE said.

The stock exchange said the month of May registered the highest in terms of both value K1.6 billion (US$4,282,486.69) and share volumes of 917.04 million.

The market registered a positive return on index as reflected in the upward movement of its main market indicator, the Malawi All Share Index (Masi) from 6344.58 points registered in April to 6914.45 points registered on 30th June 2013, giving a return on index of 8.98 percent compared to 5.58 percent registered in the second quarter of 2012.

Share price gains registered in 8 counters of First Merchant Bank, Illovo Sugar Malawi, National Bank of Malawi, National Investment Trust Limited, NBS Bank, TNM, Old Mutual and Standard bank were the major drivers in the upward movement of the Masi arising from an increase in both the Domestic Share Index and the Foreign Share Index.

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