In the final week of March as well as the first week of April, our pattern continues as we close off the month of March the bond market completely eclipses the equities market with a score of 100%
Although, the month of April starts off the month as slightly promising as the equities market is not completely dominated as it scores a 3% to 97% on the bond market. Will this be the tuning point for the equities market, Can it hold its glory in the month of April? We can’t know for certain, only time will tell. As we saw in the month of March it’s glory was short lived.
Equity Market Update
In the week ended 03rd April 2020, a total of 450,221 shares were transacted in 55 trades, yielding a market turnover of K247,971. Trading activity was recorded in AEL ZAMBIA, AIRTEL, CEC ZAMBIA, REI ZAMBIA, STANDARD CHARTERED BANK LIMITED, ZAMBEEF, ZANACO, ZAMBIA SUGAR and CEC AFRICA on the quoted tier. The Index (LASI) closed at 4,233.69 points. The market closed on a capitalization of K57,246,647,914 including Shoprite Holdings and K23,007,441,934 excluding Shoprite Holdings.
As we come to the end of March, we can track the LuSE All Share Index (LASI) for each week of the month of March. In the first week LASI closed at 4,260.56 points and in week two the LASI Closed with 4,243.65, here we see a point drop of 16.91 points from week one.Week three closed with 4.228.43 which depicted a drop of 15.22 points from week two.In the fourth week, LASI closed at 4,233.35 points which depicted a point gain from the previous week. And in the Final week The LuSE All Share Index closed at 4,233.69 points we see here as well a slight point gain from week four. Week one closed with the highest points in the month of March.
Bond Market Update 3rd April 2020
During the week, bonds of total face value of K118,906,000 were transacted in 15 trades, yielding a market value sales of K58,163,000. Week one of March’s corporate Bond trading was the best performing week as it recorded a Total Face value K487,260,000 in 13 trades ,yielding a Market Value Sales of K242,792,000. The second best performing week was week five in the month of March.
The first week of April 2020 Bond trading on the LuSE.
Important announcements
AFRICAN BANKING CORPORATION ZAMBIA LIMITED
Further to the Cautionary Announcement issued on 9th May 2019, in which the Board of Directors of African. Banking Corporation Zambia Limited (“the Board ”or “Atlas Mara” or “the Company”) informed holders of the listed notes that Atlas Mara Limited (“the Group”) has signed a binding term sheet with Equity Group Holdings Plc (“EGH PLC”) for a share swap to exchange certain banking assets which include the Company (“the Transaction”).
INVESTRUST BANK PLC
In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules, the Board of Directors of Investrust Bank Plc (“the Board”) wishes to announce the resignation of Dr. Womba K. Zulu as a Non-Executive Director of the Board effective 31st March,2020.