Zambia: Equity market posts strong gains as turnover surges over 200 percent

The local equity market posted robust gains last week, with turnover soaring to over K21.3 million — a surge of more than 200 percent compared to the previous week’s performance.

According to the Lusaka Securities Exchange (LuSE) weekly report for the period ending May 23, trading volume also climbed sharply, rising 77 percent to 1,502,431 shares.

The number of trades recorded increased by seven percent to 1,313.

Chilanga Cement dominated market turnover, contributing 58 percent of the total value traded, followed by Copperbelt Energy Corporation Zambia (CECZ), which accounted for 17 percent.

In terms of volume, Zanaco led the market, representing 38 percent of total shares traded, while Chilanga Cement followed at 27 percent.

The LuSE market index crossed the 18,000 mark during the week, closing at 18,425.43 points — a five percent gain on the week.

In terms of price performance, Metal Fabricators of Zambia emerged as the top gainer, advancing 25 percent, while CECZ registered a notable 15 percent increase.

Puma Energy was the only decliner for the week, slipping six percent.
Market capitalisation at the end of the period stood at K288.07 billion, including Shoprite Holdings, and K97.99 billion excluding it.

Meanwhile, on the foreign exchange market, the Kwacha remained under pressure against the US dollar during Friday’s session.

The local currency opened the interbank market at K27.28/K27.33 per dollar and closed marginally weaker at K27.30/K27.35.

However, a market update from Absa Bank Zambia expressed optimism for the Kwacha’s near-term performance, anticipating favourable trading conditions as economic stability improves.

This followed the Monetary Policy Committee’s (MPC) decision to maintain the benchmark policy rate at 14.5 percent during its May 21–22, 2025, meeting, citing a decline in inflation to 16.5 percent.

The MPC also noted that the moderation in the Kwacha’s depreciation during the first quarter of the year was largely attributed to improved foreign exchange supply, particularly from the mining sector.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.