Business

LuSE records increase in turnover

TRYNESS TEMBO, Lusaka
THE Lusaka Securities Exchange (LuSE) has continued to record an improvement in turnover for a second week running from almost K11.4 million the previous week to over K14.3 million last week.
The upward trend has been attributed to increased number of shares transacted on the local bourse.
Last week, LuSE recorded a significant increase in the number of shares transacted from 738,166 shares the previous week to 2,630,779 shares.
“A total of 2,630,779 shares worth K14, 309,963 were transacted last week. This is in comparison with a total of 738,166 shares transacted in 81 trades, resulting in a market turnover of K11,429,016 the previous week while a fortnight ago the turnover was registered at about K2.6 million,” according to the LuSE weekly news flash.
Out of the total revenue, African Explosives Limited Zambia (AELZ) accounted for the large chunk of about K6.8 million followed by Lafarge ,which registered slightly over K4 million ,while Metal Fabricators of Zambia and Madison Financial Services contributed K1,368,520 and K354,502 respectively.
Other firms that contributed to the impressive turnover on the local bourse were Standard Chartered Zambia, Copperbelt Energy Corporation, First Quantum Minerals Zambia, Zanaco and ZCCM-Investment Holdings.
On share price, there was minimal activity  with price change with AELZ and Lafarge posting gains of K1.19 and K1.34 respectively while a marginal loss of K0.01 was recorded by Standard Chartered Zambia.
During the period under review, the LuSE all-share index closed the week at 4,328.27 points, up by 1.57 percent from the previous close of 4,261.51 points.
Meanwhile, bonds valued at K170.1 million changed hands in 14 transactions, yielding market value sales of K99,591,580 during the week compared to bonds valued K488,552,000 changed hands in 14 transactions, yielding market value sales of K334,880,700.          On market capitalisation, it closed at over K58.2 billion, translating into a significant increase from K57.9 billion the previous week.

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