Business

LuSE records decline in turnover

TRYNESS TEMBO, Lusaka
REDUCED market activity last week by listed companies on the Lusaka Securities Exchange (LuSE) resulted in a decline in turnover from about K7 million the previous week to almost K280,000.

But LuSE operations assistant representative Kennedy Kapulo said the reduction in the turnover is not an issue of market factors but depends on reduced market activity and investor timings.

Last week, a total of 140,093 shares were transacted in 60 trades compared to 8,298,188 shares transacted in 55 trades the previous week.
“In the week ending August 4, 2017, the market recorded a turnover of K280,445 compared to K6,937,267 in the week ending July 28,2017,” according to the LuSE weekly stock news.
Of the total turnover, Copperbelt Energy Corporation (CEC) accounted for K85,742 followed by Lafarge, which registered K71,345, Standard Chartered Bank posted K52,981 while Zanaco and Zambeef Products recorded K18,228 and K10,896 respectively.
Other firms which actively participated on the platform and recorded turnovers below K10,000 are Airtel, British American Tobacco of Zambia, First Quantum Minerals Zambia, Madison Financial Services, Puma, Real Estate Investment Zambia and ZCCM-Investment Holdings.
On share price changes, there was minimal activity with both Standard Chartered Bank and Zambeef Products posting a gain of K0.01 while CEC recorded a loss of K0.01.
Meanwhile, the LuSE all- share index closed the week by an increase of 0.02 percentage point from the previous week’s close of 4,748.79 points to 4,749.61 points.
On market capitalisation, LuSE closed at K59,966, 546, 555 translating to a marginal decline from K59,963,646, 979 the previous week.

 

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