Lusaka – Zambian equities closed last week on a firmer footing, with the LuSE All Share Index eking out modest gains amid selective buying in heavyweight counters and steady turnover concentrated in a handful of names.
The benchmark LASI rose 0.06% to 25,706.32 points in the latest session, extending a cautiously positive tone that characterized trading toward the end of the week. Total market capitalization stood at K329.3 billion, or K139.2 billion excluding dual-listed Shoprite Holdings, underscoring the exchange’s growing depth despite uneven participation.
Trading in kwacha-denominated securities saw 418 trades, with 426,030 shares changing hands for a turnover of K7.43 million. Activity was dominated by Copperbelt Energy Corp., which accounted for the bulk of value traded, even as the stock slipped by 0.01 kwacha to close at K19.30. Zambian Breweries, Zanaco, Airtel Zambia, Bata and British American Tobacco Zambia also featured among the more actively traded counters.
Price movements were mixed. DCZM led gainers, jumping K0.88 to K18.00, while Standard Chartered Bank Zambia added K0.07 to K2.57, reflecting continued interest in financial stocks. On the downside, Puma Energy fell K0.03 to K4.00, adding to the subdued performance in select consumer-facing names.
Dollar-denominated assets remained dormant, with no trades recorded in the listed REIT, highlighting persistent caution among offshore investors and limited liquidity in foreign-currency instruments.
Week in Review
Over the past week, market performance was largely shaped by institutional repositioning and stock-specific flows rather than broad-based momentum. Investors favored defensive and income-generating counters, while turnover remained concentrated, suggesting that many participants are still on the sidelines awaiting clearer signals on earnings and macroeconomic conditions.
Analysts note that the market’s resilience, despite light volumes, reflects underlying confidence tied to Zambia’s improving economic outlook and stable monetary conditions, even as global markets remain sensitive to interest-rate expectations and commodity price swings.
Outlook for the Week Ahead
Looking ahead, traders expect a continuation of range-bound trading, with stock selection likely to dominate returns. Financials, mining-linked equities and energy stocks are expected to remain in focus, particularly as investors position ahead of year-end portfolio adjustments and look for cues from corporate updates.
While liquidity constraints may cap near-term upside, market participants say any positive earnings guidance or renewed foreign interest could provide incremental support for prices. For now, the LuSE enters the new week steady, supported by selective demand and a cautiously constructive sentiment.
