Weekly Market Wrap: Equities turnover decline to sh123m

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KAMPALA - Total market turnover nosedived from sh12.1b the previous week to a sh123.1m in the current week.

Data from Crested Capital shows that total volume of shares traded during the week also saw a significant drop, with transactions amounting to 1.71 million shares compared to the 33.38 million shares exchanged in the previous week.

Umeme Limited emerged as the frontrunner in terms of turnover, commanding sh60.6m in trades, representing a 49.24% of the weekly turnover.

Following closely behind, Stanbic Holdings saw transactions worth sh47m, while MTN Uganda recorded deals amounting to sh12m.

In contrast, Airtel Uganda's trading activity amounted to sh1.8m, with Bank of Baroda (BOBU) conducting trades valued at sh1.6m. dfcu Limited trailed behind with a meager turnover of sh450.

Price movements

Only two counters registered price change from the last week’s close: Umeme was up 0.94% to sh439.00, Airtel shed 5.88% to close at a low of sh80.00, while MTN, Stanbic, DFCU, and BOBU remained constant at sh170, sh34, sh225, and sh16 respectively.

On the cross-listings, only East African Breweries Limited, and KCB Group gained on their share prices, adding 3.16%, and 0.36%, respectively.

Nation Media Group fell 0.30%, Equity Group Holdings was down 2.84%, Jubilee Holdings Limited dropped 4.17%, and Centum Investments tumbled 5.71%.

The USE All Share Index (ALSI) fell 1.14% to 1,059.65, while the C11 – Crested’s local companies’ index lost 1.75% to close at 95.32 index points.