The Lusaka Securities Exchange All Share Index (LASI) continued its upward trend in August, surpassing 15,000 points during Wednesday’s trading session and closing the month at an all-time high of 15,146.27 points.
This represents a 40% gain year-to-date.
“Total market capitalization closed the month at K140 billion, reflecting a 22% increase from the previous month and 63% cumulative growth for 2024,” LuSE Chief Executive Officer, Nicholas Kabaso said in a statement issued to RCV News in Lusaka today.
He said the growth was primarily driven by rising share prices across most counters on the board.
“The growth in the equity market underscores the importance of investing in shares, which have historically offered a significant opportunity to optimize investors’ returns and incentivize support for businesses seeking to raise capital,” said Mr. Kabaso.
Mr. Kabaso said the LuSE is optimistic that the momentum built thus far, as reflected in the index’s movement, can be sustained in the short to medium term, supported by a favourable economic outlook and a stable exchange rate.
“Key Market Highlights Shoprite Holdings recorded the largest percentage increase in August, with its share price rising by 56%, from K80.00 to K125.00, showing a monthly gain of K45.00. Other notable monthly gains were observed in Bata Shoe Company, up by K1.00 (20%); Copperbelt Energy Corporation, which rose by K2.11 (19%); and Chilanga Cement, which increased by K3.00 (18%),” said Mr. Mubanga.
By Eva Hatontola
