LuSE turnover slumps

Lusaka Stock Exchange

OUT of the 23 listed firms on the Lusaka Stock Exchange (LuSE), only seven recorded trade activity, resulting in a further two-fold drop in the turnover last week.
Last week, overall trading activity occurred in seven listed firms with a total of 124,278 shares that changed hands in 35 trades, resulting in a market turnover of K103,243 from K347,403 the previous week, down from K2.2 million in the third week of April.
Of the total turnover, Copperbelt Energy Corporation (CEC) accounted for K84, 179, followed by Zambian Breweries which registered K7,390, Madison Finance Services at K7,135 while Standard Chartered Zambia and Lafarge recorded K1, 663 and K1, 274 respectively.
Among other firms which recorded trading were Investrust, First Quantum Minerals Zambia, Zambeef Products and Airtel, according to LuSE weekly news update for May 6, 2016.
“This is in comparison with trade activity which occurred in 17 firms with a total of 366,068 shares transacted in 89 trades, resulting in market turnover of K347, 403, the previous week,” LuSE notes.
In terms of share price changes, most of the companies’ share values were unchanged with CEC posting a marginal gain of K0.01.
Zambeef Products recorded a K0.10 drop in the share price while Standard Chartered Zambia and First Quantum Minerals Zambia recorded K0.02 losses.
Meanwhile, the LuSE all-share index closed the week at 5,000.36 points, down by 0.21 percentage point from the previous week’s close of 5,010.36 points.
During the week under review, bonds valued at K471.43 million were transacted in 12 trades, yielding market value sales of K314, 42 million.
On market capitalisation, the local bourse last week closed at K61.27 billion, which translates to a decrease from the previous week which registered market capitalisation of K61.31 billion.

Facebook Feed