Malawi Stock Exchange (MSE) registered a drop in total value of shares traded and volume in October 2015 compared to the month before, a monthly market report shows.
The local bourse also registered a negative return on index of -3.11 percent, according to the report.
MSE monthly report for October 2015 shows the market registered negative return on index as reflected in the downward movement of Malawi All Share Index (Masi) from 15824.68 points registered on September 30 2015 to 15 332.70 points registered on October 31 2015.
Reads the report in part: “The price gain registered by Sunbird Tourism Limited was not enough to offset share price losses registered by Illovo Sugar [Malawi] Limited, NBS Bank, National Investment Trust Limited and TNM plc, resulting into a decrease in the domestic share index by -3.14 percent points from 12 466.81 points to 12 075.48 points. The foreign share index was steady at 1 762.13 points.”
According to the report, 14.7 million shares were transacted in the month under review, raising K308.2 million [$556 886.07] against 24.5 million shares sold during the same period last year.
But in September this year, the 14-counter market transacted 157.1 million shares at a value of K5.1 billion ($9.2 million) in 88 trades, reflecting a -90.63 percent decrease in terms of share volume and -94.03 percent in share value. n