Weekly Market Wrap: Turnover up 28%

KAMPALA - Trading on the Uganda Securities Exchange (USE) picked up in the week ending August 8, with total turnover rising 27.6% to sh6.88b from sh5.39bn the previous week.

According to a market report from Crested Capital, activity during the review period was spread across seven counters, though MTN Uganda once again dominated the market.

MTN exchanged 25.71m shares worth sh6.76b, up from sh5.33b last week. Stanbic Holdings followed with trades worth sh66.24m, while Uganda Clays moved sh26.72m.
Airtel Uganda recorded sh11.33m, Bank of Baroda sh9.77m, NIC Holdings sh1.72m and New Vision sh1.57m.

The USE All Share Index fell 0.77% to 1,354.38 points, while the local index, which tracks local companies, gained 0.71% to 126.15 points.

On share price movement, Uganda Clays was the top gainer, up 3.5% to sh6.50, MTN added 0.93% to sh262, and Stanbic rose 1.76% to sh51.90.

New Vision shed 0.66% to sh151.0. Prices for Umeme, NIC, BAT Uganda, Bank of Baroda, Airtel, dfcu and QCIL were unchanged.

Among cross-listed stocks, Jubilee Holdings jumped 10.28% to sh7,311.35, and Equity Bank rose 1.93% to sh1,420.89.

Centum Investments slipped 0.11% to sh318.66, East African Breweries tumbled 8.57% to sh5,731.82, Kenya Airways dropped 4.44% to sh135.19, KCB Group edged down 0.23% to sh1,310.53, and Nation Media Group fell 1.63% to sh373.84.