Ugandan Bourse ends week with a drop in turnover

By Our Reporter

Seven out of eight counters posted activity in this week’s trading. Market value traded fell to Ushs 6.48 billion from Ushs 7.23 billion last week. Stanbic Bank Uganda (SBU) was the biggest mover with 168.31 million shares changing hands at Ushs 27 each to realize Ushs 4.71 billion in turnover. Umeme had a turnover Ushs 1.75 billion from 3.49 million shares traded. Its share price was stable at Ushs 500.

Uganda Clays Limited (UCL), Bank of Baroda Uganda (BOBU) and DFCU Bank moved 1.97 million shares, 32,400 shares and 4,094 shares to register turnover of Ushs 25.67 million, Ushs 4.47 million and Ushs 3.21 million respectively. UCL and BOBU maintained their previous closing levels at Ushs 14 and Ushs 138 while DFCU lost 3.13% to a new 52 week low of Ushs 775.

New Vision Limited (NVL) and National Insurance Corporation (NIC) traded 4,671 shares and 42,500 shares to generate a turnover of Ushs 2.57 million and Ushs 510,000 respectively. NVL share price was down 0.9% to Ushs 550 whereas NIC held steady at Ushs 12.

Among the cross listings, Uchumi Supermarkets was the biggest gainer as its share price grew by 8.6% to Ushs 101 while Nation Media Group (NMG) share price shed 10.74% to end the week at Ushs 4,280.

The USE All Share Index lost 2.77% to 1,617.39 due to price reductions on most of the cross listed counters. On the other hand the USE Local Share Index and C8* were down 0.28% and 0.29% to 388.46 and 122.23 respectively.

The Uganda shilling held steady this week supported subdued corporate activity and a central bank mop up of excess local currency liquidity. It was quoted at 3,363.83 against the US Dollar as at Friday midday which is an appreciation from the past week’s close of 3,366.42.