Uganda Bourse closes week on a high as Umeme dominates market

By Our Reporter

The Ugandan bourse registered increased activity this week as significant volumes of UMEME changed hands. As a result, market turnover surged to Ushs 7.82 billion from Ushs 1.73 billion previously. The total market turnover realized this week is only 2.16% short of the total turnover for July amounting to Ushs 7.99 billion.
The USE All Share Index was up 1.91% to close at 1,948.48 while the USE Local Share Index and C8* fell by 2.06% each to end the week at 352.34 and 110.87 respectively due to a price dip on the UMEME and NVL counters.

UMEME had a turnover of Ushs 6.57 billion as a result of 10.13 million shares exchanged. Its share price shed 8.12% to close at Ushs 635 from a high of Ushs 692 last week.

DFCU share price gained 1.6% to close at Ushs 951. The counter traded 749,794 shares to realize Ushs 713.05 million in turnover.

Stanbic Bank Uganda moved 10.54 million shares at a stable price of Ushs 33 to register a turnover of Ushs 346.7 million. New Vision Limited had Ushs 183.85 million in turnover from 305,900 shares traded. Its share price shed 0.17% to close at Ushs 604.

National Insurance Corporation and Uganda Clays Limited moved 56,585 shares and 11,557 shares at Ushs 13 and Ushs 15 per share to generate Ushs 735,605 and Ushs 173,355.

Among the cross listed counters, despite its current woes Kenya Airways made the biggest gain of 13.26% to close at Ushs 205 while Nation Media Group was the only loser with its price shedding 2.46% to close at Ushs 6,215.

The Shilling was widely stable this week due to lower US Dollar demand in the market and tighter monetary policy as Bank of Uganda raised the Central Bank Rate on Monday. It was quoted at 3,536.7 as at midday on Friday.