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ZCCM-IH records K96,660 total turnover, as Madison dominates LuSE turnover

THE Lusaka Stock Exchange (LuSE) last week registered a significant turnover, largely contributed by Madison Finance Services (MFS).

The LuSE witnessed significant increase in turnover of over K3 million, largely contributed by trade in MFS shares, which accounted for almost K2.4 million.

This is in comparison to the previous week of a market turnover of about K500,000 where a total of 225,424 shares were transacted in 63 trades.

According to the LuSE weekly update for June 17, 2016, the increase was despite recording share price loses in two companies.

LuSE recorded share price losses of K0.06 and K0.18 in Standard Chartered Zambia and Zambia Sugar, respectively, while a K0.10 price gain was recorded in Zambeef.

Overall trading, however, occurred in 10 companies with a total of 1,137,134 shares worth K3,054,920 transacted in 85 trades.

Of the total turnover, Madison Finance Services accounted for a bulk of K2,404,568, followed by Zambeef which recorded K338,433, Lafarge at K112,347, ZCCM-IH at K96,660 while National Breweries and Zanaco registered K28,665 and K20,000, respectively.

Others firms that recorded trades were Copperbelt Energy Corporation, British American Tobacco Zambia and Puma.

Meanwhile, the LuSE all-share index closed the week at 4,780.22 points, down by 0.67 percentage point from the previous close of 4,812.29 points.

During the period under review, bonds valued at K52,795,000 changed hands in seven trades, yielding market value sales of K34,212,000 compared to the previous week which registered 11 trades in bonds valued at K63.6 million, yielding K42,096,000.

On market capitalisation, the LuSE last week closed at K60.4 billion, which translates into a decrease from the previous week when the local bourse registered market stock worth K60.5 billion.

Source: Zambia Daily Mail

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