Business

Zanaco ranked highest performer on LuSE

Zanaco building.

TRYNESS TEMBO, Lusaka
ZANACO Bank was the highest performer on the Lusaka Securities Exchange (LuSE) for the second consecutive month after the local bourse closed July at over K15 million in turnovers.

Of the total K15,067,488 value turnover, about K6 million was shared among 14 companies that participated in 271 trades on the local bourse.

During the period under review, Zanaco posted the largest chunk of over K9 million, although it was lower from the previous month’s K625,997,591 turnover.
However, LuSE recorded a decline in turnover from about K660 million in June to almost K15 million due to a decline in the number of shares transacted in the listed firms on the platform.
The decline entails that the local bourse witnessed reduced market activity during the period under review.
“LuSE last month had a total of 15,866,268 shares transacted in 271 trades compared to 667,332,035 shares transacted in 366 trades the previous month.
“In July, the local bourse recorded a market turnover of K15,067,488 compared to K660,135,047 in June,” according to the LuSE monthly news flash for July.
Zanaco, whose share price was at K0.75 for both months and had 41 trades, topped the chart at K9,445,685 followed by Puma, which recorded K2,253,950, and Lafarge at K1,355,204.
Other firms which participated and recorded turnover below K1 million were Madison Financial Services at K959,903 followed by Copperbelt Energy Corporation, which stood at K207,201, British American Tobacco Zambia at K204,485, while Airtel and Cavmont Capital Holding registered K187,264 and K144,000 respectively.
The other companies which participated and recorded turnover below K100,000 were African Explosives Zambia Limited, Bata, Standard Chartered, Zambeef Products, Zambia Sugar, Zambia Breweries and ZCCM-Investment Holdings.
Meanwhile, the LuSE all-share index closed at 4,748.53 points, a decline of 0.23percentage point from the previous close of 4,759.65 points and was up by 14.88 percent year to date.
During the period under review, bonds valued at about K1.6 billion were transacted in 146 deals, yielding market value sales of K1,190,280,816 compared to bonds valued at almost K1 billion transacted in 112 deals, yielding market value sales of K678,361,675.
On capitalisation, LuSE closed at K59.9 billion compared to K60 billion in June, representing a decline of 0.07 percentage point.

 

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