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Lusaka Securities Exchange reports 10.2% percent rise in market capitalization, reaches K97.7 billion


The Lusaka Securities Exchange (LuSE)’s performance has remained positive in the first quarter of this year with market capitalisation standing at K97.7 billion, up by 10.2 percent.

LuSE Chief Executive Officer, Nicholas Kabaso, attributed the growth in the market capitalisation to positive market performance as well as the recent completed assets acquisition under Real Estate Investments Zambia PLC (REIZ).

“Annual growth in market capitalisation was 30.26 percent. Indicatively, the market capitalisation to the gross domestic product (GDP) is hovering around 18 percent,” Kabaso said at the LuSE quarterly media briefing On Thursday.

During the period under review, the LuSE All-Share Index, closed at 17.3 percent making it the second–best performing quarter since 2000.

He said year-on-year, the index was up by 68 percent.
Kabaso also said the index broke the 9,000,10,000- and 12,000- point barriers all within the space of 12 months.

On the turnover, he said the market saw a decrease during the quarter compared to 2023 in the same period.

Kabaso said the turnover in the first quarter of this year decreased to K467.94 million from K653.52 million in the same period last year.

“This represents a 28.4 percent decline in turnover. Further, average daily turnover in quarter one of 2024 was K7.67 million, while that in 2023 in the same period was K10.71 million,” he said.

Kabaso said the top five traded companies during the period under review were Taj Pamodzi Hotel Plc, Chilanga Cement Plc, Copperbelt Energy Corporation Plc, REIZ and Zambia Forestry and Forest Industries Corporation Plc.

He said 97 percent of the turnover in the first quarter was attributed to trading in the five companies, while Taj Pamodzi Hotel Plc contributed 88 percent of this total turnover for the quarter.

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