Weekly Market Wrap: Stanbic, Airtel lift local stocks

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Trading at the Uganda Securities Exchange closed the week ending October 17 with modest gains in several local counters offset by losses in MTN Uganda and Umeme.

Airtel Uganda’s share price rose 1.49% to sh81.5 per share, Bank of Baroda (BOBU) edged up 0.40% to sh45.18, and Stanbic Holdings climbed 1.61% to close at sh62.

Meanwhile, MTN fell 3.14% to sh290.57 and Umeme dropped sharply by 9.88% to sh365. dfcu Bank held at sh264, BAT Uganda stayed firm at sh15,000, NIC at sh5, Uganda Clays at sh6.5, Quality Chemicals Industries Limited (QCIL) at sh118, and New Vision at sh150.

Data from Crested Capital shows that total turnover rose to sh535.21m from last week’s sh233.01m. Stanbic moved sh332.35m, MTN traded sh172.06m. QCIL traded sh20.67m.

Airtel and Uganda Clays Limited (UCL) exchanged sh3.42m and sh3.02m respectively. BOBU, NIC Holdings and Umeme, posted relatively small trades under sh2 million.

Among the cross-listed companies, Centum Investments fell 8.64% to sh377.45, East African Breweries Limited dipped 0.64% to sh5,722.25, while Equity Bank Limited gained 1.11% to reach sh1,578.32.

Jubilee Holdings Limited added 3.34% to close at sh8,724.41, Kenya Commercial Bank rose 2.01% to sh1,531.31, and Kenya Airways slipped 0.98% to sh101.55. Nation Media Group ended 0.75% lower at sh358.65.