"The law is clear, there is no extension," said high court judge Kenyatta Nyirenda.
The ruling cleared the way for the electoral commission to release poll results by the legal deadline of midnight (0330 IST) yesterday.
Riot police patrolled key areas of the commercial capital Blantyre as the court decision was announced after earlier demonstrations turned violent, leaving one protester dead.
President Joyce Banda - shown in early results last week to be running third - had claimed the vote was marred by "serious irregularities" and declared it "null and void".
Leading the race was Peter Mutharika, 74, brother of former president Bingu wa Mutharika and leader of the Democratic Progressive Party, whose lawyers opposed a recount.
The election in the tiny, poverty-stricken southern African nation was dogged by controversy from the start, with some polling stations opening 10 hours late and some voting stations recording more votes than there were registered voters.
The stakes are high for losing or gaining office for both Banda and Mutharika.
Banda, 64, began her term as a darling of the West, feted as one of Africa's rare women leaders, but her government has since been ensnared in a USD 30 million corruption scandal dubbed "Cashgate".
Banda has claimed the credit for uncovering the fraud, which saw aid money syphoned into top government officials pockets. Critics say the funds went into her party's war-chest.
After taking office Banda oversaw the devaluation of the kwacha currency by 50 per cent, the easing of foreign exchange restrictions, along with the raising of fuel prices and cutting of subsidies.
That helped restore an IMF credit line, but the country remains overly dependent on agriculture and foreign aid to survive.
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