Share trades increase by over 1,000% at Malawi Stock Exchange
The Malawi Stock Exchange (MSE) says volumes of shares for the month of May, 2013 have increased by 1170.77 percent.
MSE’s monthly market report said from 1st May to 31st May, 2013 a total of 917,047,544 [25,605,520 in May 2012] shares were transacted at a total consideration of K1.6 billion(US$4,282,486.69) [K159,794,767.35(US$667,625.13) in May 2012] in 74 trades.
“In the previous month, April 2013, the market transacted a total of 72,164,760 shares at a total consideration of MK381,929,273.80 (US$934,205.18) in 92 trades. This reflects a 1170.77% increase in terms of share volume and 323.52% (358.41% in US Dollar terms) increase in share value,” MSE said.
The market registered an average daily volume of 43,668,931 shares in May 2013 compared to 3,436,417 shares in April 2013.
“The average daily turnover for May 2013 was K77,025,823.43 (US$203,927.94) compared to K18,187,108.28 (US$44,485.96) for the previous month, reflecting an increase of 323.52% (358.41% in US Dollar terms),” MSE said.
The report further says the stock exchange has broken it’s record high since inception of 6396.64 points attained on 14th November 2008 to close the month of May, 2013 at 6552.53 points, from 6360.60 points registered on 30th April 2013.
The price gains registered by Illovo, National Bank, NBS Bank, NITL, Standard Bank, TNM and Old Mutual were the major drivers resulting into an increase in both the Foreign Share Index and the Domestic Share Index by 0.68 points from 1106.04 points to 1113.58 points and by 3.06 points from 4978.43 points to 5130.97 points (29.78% in US$ terms) respectively.
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