Market capitalization grew by 0.08% in 2018 3rd quarter – SEC

The value for market capitalization of listed companies in Zambia grew to K62, 935 million in the third quarter of 2018 in kwacha terms.

Securities and Exchange Commission (SEC) Chief Executive Officer, Phillip Chitalu says this growth is 0.08 percent higher than the K62,884 million growth recorded in the second quarter.

Mr. Chitalu says on a year to year basis, the market capitalization grew by 3.37 percent from K60,884 million in the third quarter of 2017 to K62, 935 million during the same period in 2018.

Speaking during a quarterly media briefing in Lusaka, Mr. Chitalu observed that this trend signifies steady growth of the market on a year to year basis in Kwacha terms.

He has however, noted that in US dollar terms, the market capitalization on both a quarterly and annual basis declined by 17. 73 percent and 17.58 percent respectively.

Mr Chitalu has told journalists that this decline is as a result of the depreciation of the Kwacha against the US Dollar both on a quarterly and a year on year basis.

And Mr. Chitalu says the number of shares traded on a quarterly basis declined by negative 27.85 percent and increased by 37.98 percent on an annual basis.

He however, states that the volume of shares traded fell on both a quarterly and on an annual basis by 95.22 percent and 22. 24 percent respectively.