By Our Reporter
There was more activity at the Uganda Securities Exchange (USE) this week as turnover advanced to Ushs 1.9 billion from Ushs 203.99 million last week. Umeme registered the highest turnover of Ushs 1.04 billion as a result of trading 2.02 million shares. Its share price gained 2.79% to close at Ushs 515. The three local listed banks namely DFCU, Stanbic Bank Uganda (SBU) and Bank of Baroda Uganda (BOBU) had 906,189 shares, 4.78 million shares and 23,200 shares exchanged to record a turnover of Ushs 731.81 million, Ushs 125.93 million and Ushs 3.25 million respectively. DCFU share price shed 5.88% to Ushs 800, SBU was up 3.85% to Ushs 27 while BOBU lost 1.41% to close at Ushs 140.
National Insurance Corporation (NIC), New Vision Limited (NVL) and Uganda Clays Limited (UCL) moved 112,925 shares, 700 shares and 6,500 shares to generate turnover of Ushs 1.36 million, Ushs 388,500 and Ushs 97,500 each. NIC, NVL and UCL share prices held steady at Ushs 12, Ushs 555 and Ushs 15 respectively.
Among the cross listings, Kenya Airways made the biggest gain of 11.36% to end the week at Ushs 147 while East African Breweries Limited (EABL) share price lost 4.92% to Ushs 9,363.
The USE All Share Index shrunk by 1.9% to end the week at 1,698. The USE Local Share Index and C8* rose by 0.99% each to 392.27 and 123.43 respectively.
The Uganda Shilling is depreciated slightly at the start of this week due to increased owing to the global strengthening of the dollar and panic buying of dollars from the corporate and offshore investors. The local currency was steady on Friday as companies paid their half year tax bills, curbing their appetite for dollars. It was quoted at 3,399.9 against the US Dollar as at Friday midday.
