MTN shares worth sh630m traded in August

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MTN dominated activity at the bourse in August, accounting for a 36.31% (about sh630m) of the total turnover, according to the monthly equities report by the Uganda Securities Exchange (USE).

However, USE reported a decline in trading turnover for the period, compared to the same period in the previous year.

The total trading volume for August 2023 was 44,259,772 shares, with a turnover of slightly over sh1.7b.

USE’s August’s performance represents a 53.82% decrease in turnover compared to August 2022 when turnover stood at about sh3.7b.

In terms of trading volume, approximately 44 million shares were traded during August, a decrease from the 84 million shares traded in July 2023. However, there was an increase in the number of deals, with 703 deals executed in August compared to 579 deals in July.

In terms of activity, Bank of Baroda Uganda (BOBU) followed MTN closely with a 26.39% contribution, while Stanbic posted 7.64%. DFCU Limited (DFCU), Cipla Quality Chemicals Limited (CQCIL), Uganda Clays Limited (UCL), National Insurance Corporation (NIC), and Centum Investment Company (CENT) collectively traded for 3.3% of the total turnover.

The Local Company Index (LCI) showed a positive performance during the period, primarily driven by gains on the Stanbic and NIC counters. The LCI began the month at 268.74 and closed at 270.61, marking a 0.70% increase.

In contrast, the All-Share Index (ALSI) experienced a decrease of 5.26%, dropping from 1,008.66 at the start of the month to 955.62.