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LuSE witnesses increased turn-over

TRYNESS MABLE, Lusaka
DESPITE recording a reduction in the number of firms, which participated on the Lusaka Stock Exchange (LuSE) last week, the capital market witnessed a doubled increase in turn-over to over K400, 000 from the previous week.
Overall trading activity occurred in eight firms with a total of 369,064 shares transacted in 103 trades, resulting in a market turn-over of K491, 489.
According to LuSE weekly news update for October 2, 2015, this is in comparison to 10 companies which participated the previous week with a total of 148,337 shares worth K243, 341 transacted in 25 trades.
There was trade activity in Standard Chartered Bank Zambia, which accounted for a bulk of K265, 383, followed by Copperbelt Energy Corporation (CEC), which recorded K134, 482 while African Explosives Zambia Plc (AELZ) and Madison Finance Services registered K76, 417 and K7, 080, respectively.
Among other firms which recorded trading were Lafarge, Puma, Zambia Sugar and Zambeef Products.
During the period under review, share price gains were recorded in Madison Finance Services at K0.05 and Puma at K0.01, but AELZ recorded a loss of K0.03.
Meanwhile, the LuSE-All Share Index closed at 5, 800.70 points, up by 0.03 percentage point compared to the previous close of 5,799.02 points.
During the week under review, bonds valued at K42, 245,000 changed ownership in 14 trades, yielding market value sales of K34, 031,300.
This is in comparison with bonds valued at K146.2 million which changed hands in five trades, yielding market value sales of K93, 680,020 the previous week.
On the regional front, the short-term technical improvement on the JSE continued on Friday morning as local shares were still recovering from a remarkably over-sold technical position.
According to News 24, by Friday midday, the share price of the second-biggest company on the JSE gained 1.92 percent to yet another 52-week high of 785.33 rand.
Meanwhile, the Nigerian Stock Exchange recorded an increase in turn-over to 14.05 billion naira last week from about 5.2 billion naira the previous week.