By Silvia Nyambura
The Uganda Securities Exchange has closed the week at Ushs 4.08 billion turnover compared to Ushs 255.14 million last week. The USE All Share Index gained 0.61 percent to close this week at 2,052.64 on the back of price increments on the large cap EABL counter. The USE Local Share Index and C8 Local Companies’ index were also up 0.54 per cent and 0.57 per cent to end Friday’s trading session at 326.26 and 102.69 respectively. The two most liquid counters (UMEME and SBU) were the biggest contributors to this week’s market turnover.
UMEME had 5.69 million shares changing hands to generate a turnover of Ushs 2.84 billion. Its share price shed 0.2 per cent to close this week at Ushs 499. Stanbic Bank Uganda recorded Ushs 1.16 billion in turnover as a result of 35.16 million shares changing hands at a flat price of Ushs 33 per share. The National Insurance Corporation share price fell by 5.56 per cent to trade at Ushs 17 this week. A total of 181,803 shares were exchanged on the counter to realize a turnover of Ushs 3.09 million.
New Vision Limited traded 1,480 shares at a stable price of Ushs 602 each to register a turnover of Ushs 890,960. DFCU Group which published its 2014 financial results this week showing improved profitability, was the week’s biggest gainer with its price appreciating by 6.12 per cent to trade at Ushs 850. DFCU had Ushs 850,000 in turnover as a result of trading 1,000 shares.
Uganda Clays Limited recorded a 10 percent dip compared to last week. The company moved 26,551 shares at Ushs 18 each to realize a turnover of Ushs 477,918.
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Among the cross listings, Centum Investments was the week’s biggest loser with its price losing 9.04 per cent to close Friday’s trading session at Ushs 1,750. The counter registered trades twice on the Ugandan bourse this week in which 41,944 shares were exchanged to generate Ushs 73.4 million in turnover. On the other hand, East African Breweries Limited made the largest gain as its share price grew by 5.33 per cent to Ushs 10,303.
Market activity was relatively low for most of the week as investors look ahead to the release of financial results for the full year 2014 which are expected at the near end of this month into April 2015. So far, only BATU and DFCU have published audited accounts for FY14 while NVL released its half year ended December 2014 financials.
The Uganda Shilling was widely stable this week due to the Central Bank intervention on Monday coupled with decreasing levels of demand in the market. However, market sentiments pointed to a weakening shilling as it stood at Ushs 2,937 as at midday on Friday from Ushs 2,880 in the past.
