By Our Reporter
Market turnover plummeted marginally by 3.24% to Ushs 5.71 billion this week from Ushs 5.91 billion last week. However, a total of 59 deals were registered at the bourse, up from 42 deals previously.
The USE All Share Index shed off 2.58% to 2,017.35 on the back of a price dip on more than half of the cross listed counters from the previous week. The USE Local Share Index and C8 were up 0.01% each to 324.14 and 101.99 respectively showing the marginal price increment on the New Vision counter.
Investors continued to show a high appetite for UMEME which witnessed a total of 11.34 million shares changing hands to realize a turnover of Ushs 5.52 billion. Its share price advanced to Ushs 87 during the course of the week before shrinking to Ushs 485 at its close.
The local bank counters also had significant activity on their counters at stable prices. Stanbic Bank Uganda, Bank of Baroda Uganda and DFCU moved 3.77 million shares, 39,635 shares and 3,600 shares at Ushs 33, Ushs 130 and Ushs 850 per share to register a turnover of Ushs 124.73 million, Ushs 5.15 million and Ushs 3.06 million.
New Vision Limited was this week’s only gainer among the local counters as its price advanced by 0.83% to Ushs 605 from Ushs 600 in the past week. The counter had Ushs 56.9 million in turnover as a result of trading 94,050 shares.
National Insurance Corporation and Uganda Clays Limited had 88,072 shares and 6,000 shares exchanged on their counters at Ushs 16 and Ushs 18 each to generate a turnover of Ushs 1.41 million and Ushs 108,000 respectively.
Most of the cross listed counters were on a downward trend this week with Equity Bank Limited recording the biggest loss of 9.51% to Ushs 1,522 at the close of today’s trading session.
The Uganda Shilling began the post Easter week strong due to low demand for the greenback in the market. It firmed further following the 100% increment of the Central Bank Rate to 12% on Wednesday. The Ushs was quoted at 2,970.1 as at midday today.
