Into the fourth week of August 2020 bond trading, we had a some what reverse. As we usually see magnificent scores towards the end of the month as seen from previous months. The penultimate week has the highest score on the equities market breaking our constant pattern of being completely dominated by the bond market. This was not the case with the month of August as it started with a bang and ended on a lower note, hence the reverse. Recording a score of 99% to 1% on the equities side.
Equity Market Update
In the week ended 28th August 2020, a total of 439,793 shares were transacted in 35 trades, yielding a market turnover of K1,190,420. Trading activity was recorded in AIRTEL, COPPERBELT ENERGY CORPORATION, LAFARGE, PUMA, ZAMBIA BREWERIES, ZANACO and ZAMBIA SUGAR. The Index (LASI) closed at 3,842.39 points. The market closed on a capitalization of K55,545,036,766 including Shoprite Holdings and K21,305,830,786 excluding Shoprite Holdings.
Four weeks into the month of August, we can track The LuSE All Share Index, (LASI). And see how it performed in each week. In the first week the LASI closed at 3,865.40 points, going into week two it scored 3,844.69 which was a point drop of 20.71 points from week one. Into the third week, LASI closed at 3,842.39 points which again depicts a point drop from the previous week of 2.3 points. In the fourth week LASI closed at 3,842.39 points same as the week prior. The first week recorded the highest points.
Bond Market Update
During the week, bonds of total face value of K197,405,000 were transacted in 17 trades, yielding a market value sales of K133,119,000.
Week two, out performed all the other weeks.
Important announcements
Half year report a negative diluted earnings per share compared to same period last year due to a decline in gross profit, higher retail occupancy and direct store and administration costs and foreign currency loss booked in the period.