Weekly market wrap: Turnover at USE dips as MTN drives trading

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Trading at the Uganda Securities Exchange slowed in the week ending August 29, with total turnover dropping to sh142.35m from sh404.93m the previous week, according to a market report by Crested Capital.

MTN Uganda led activity, trading shares worth sh99.42m. Airtel Uganda followed with sh27.78m, Bank of Baroda moved sh5.95m, while Stanbic Holdings traded sh5.09m ($1,437). Quality Chemical Industries (QCIL) and NIC Holdings recorded smaller trades at sh4.06m and sh50,500 respectively.

On price movements, Stanbic was the week’s top gainer, climbing 3.67% to sh56.50 per share. MTN gained 2.57% to close at sh281.12, while Baroda rose 0.87% to sh116 per share. The rest of the local counters held steady, including Umeme at sh415, Airtel at sh80, dfcu at sh258.7 and BATU at sh15,000.

On cross-listed counters, Centum Investments jumped 16.06% to sh377.99, while Equity Bank inched up 0.05% to sh1,539.44. On the downside, Nation Media Group shed 4.38% to sh362.87, Kenya Airways fell 15.23% to sh109.96, KCB Group dropped 1.77% to sh1,477.59, and Jubilee Holdings declined 2.61% to sh7,552.88. East African Breweries slipped 0.40% to sh5,924.10.