LuSE trading down by 11p.c

SHARE trading at the

Lusaka Securities Exchange (LuSE) has for the second week slowed down with the volumes going down by 10.6 percent.

With the number of trades declining to 369 from 465, the volume of shares that changed hands was down 10.6 percent to a seven-week low of 585, 693 from 655, 048.

This is according to the Zanaco weekly financial markets update.

“Consequently, the weekly turnover associated with the traded shares fell 12.3 percent to a five-week low of K1.43 million from K1.63 million,” according to Zanaco.

Of the total turnover, Zanaco stated that net purchases by non-resident equity investors only accounted for 7.6 percent, down from the previous week’s 16 percent.

It indicated that although there were 10 companies whose shares were traded, activity was dominated by CECZ which accounted for 65.2 percent of the total value of traded shares.

The majority of the rest was seen by ZAMBEEF

(16.2 percent), ZAMEFA (10 percent), LAFARGE (4.7 percent) and SCBL (1.2 percent). “Over the course of last week’s trading session, only one company saw movement in its share price.

“This was CECZ which posted a decline sizing

K0.02 to K2.63 per share. On account of this loss, and after a 4-week sequence of recording gains, the LuSE

All Share Index (LASI) which tracks price movements fell 0.14 percent to 5433.44 from 5440.89,” the bank stated.

Last week’s blip notwithstanding, and in show of improving economic conditions, LASI is up 38.9 percent and 67.13 percent year-to-date in Kwacha and United States Dollars terms, respectively.

Meanwhile, Zanaco stated that money market liquidity eased to a seven-month high amid fresh Government spending.

Coming from tightening, liquidity conditions in the money market eased 57.3 percent the most in four weeks, to a seven-week high of K3.5 billion from K2.25 billion.