Weekly Market Wrap: Turnover declines on USE despite price gains
Despite the fall in activity, several counters registered gains. QCIL rose 4.8% to close at sh110, the week’s top gainer. MTN Uganda was up 2.7% to sh269, and Stanbic added 2.1% to sh53.
Trading on the Uganda Securities Exchange (USE) slowed last week as turnover dropped to sh120.6m.
By Ali Twaha
Journalists @New Vision
KAMPALA - Trading on the Uganda Securities Exchange (USE) slowed last week as turnover dropped to sh120.6m, well below the sh6.9b recorded the previous week.
Crested Capital said activity was spread across eight counters, but most trades were modest in value. Stanbic Holdings led the market with sh42.8m from 813,867 shares, accounting for 35.5% of the week’s turnover.
MTN Uganda followed with sh30.6m. Uganda Clays Limited (UCL) posted sh16.7m, while Airtel Uganda saw sh14m.
Bank of Baroda (BOBU) traded sh13.6m and Quality Chemicals Industries Limited (QCIL) moved sh2.6m. Dfcu and NIC Holdings together exchanged shares worth only sh242,000.
Despite the fall in activity, several counters registered gains. QCIL rose 4.8% to close at sh110, the week’s top gainer. MTN Uganda was up 2.7% to sh269, and Stanbic added 2.1% to sh53.
Share prices on the other local counters, including Umeme at sh415, Airtel at sh80 and British American Tobacco Uganda at sh15,000, were unchanged.
On cross listed counters, Kenya’s Centum Investments rose 2.3% to sh326.05, Equity Bank climbed 4.6% to sh1,485.81, and Jubilee Holdings advanced 3.8% to sh7,587.26. KCB Group gained 3.6% to sh1,357.87, and Nation Media Group edged up 0.8% to sh376.96.
On the downside, Kenya Airways lost 3.1% to close at sh130.97, while East African Breweries slipped 0.3% to sh5,716.24.