In the battle of opposites in the fourth and final week of the month of January 2021 bond trading on the LuSE. Once again the bond market dominates the equities market as it recorded a 99% to 1%. Throughout the month the equities market has completely underperformed, we see a little hope for a turn around in the equities market in the second week when it recorded a 29% to 71% on the bond market, this was solely because there was little trading activity on the bond market. But our hopes were in vain as it was completely dominated after that.
Equity Market
In the week ended 29th January 2021, a total of 2,274,417 shares were transacted in 66 trades, yielding a market turnover of K2,481,413. Trading activity was recorded in AEL ZAMBIA, AIRTEL, CEC ZAMBIA, LAFARGE, PUMA, STANDARD CHARTERED ZAMBIA, SHOPRITE, ZANACO, ZCCM and CEC AFRIKCA on the quoted tier. The Index (LASI) closed at 3,904.59 points. The market closed on a capitalization of K57,319,772,494 including Shoprite Holdings and K23,086,001,309 excluding Shoprite Holdings.
Bond Market
Bonds of total face value of K843,301,000 were transacted in 19 trades, resulting in a market value sales of K450,488,000.
Important announcements
COPPERBELT ENERGY CORPORATION PLC
Furthermore, shareholders were advised that KCM had accumulated debt of USD144.7 million in unpaid power charges and had signed a term sheet with ZESCO Limited (“ZESCO”) for power supply. In addition, the Government of the Republic of Zambia issued Statutory Instrument No.57 of 2020 on 29 May 2020 declaring CEC Transmission and distribution lines as “Common Carrier”, enabling ZESCO to transport or wheel power through the CEC infrastructure to supply KCM.