By Our Reporter
Total market turnover at the Uganda Securities Exchange (USE) surged to Ushs 3.37 billion from Ushs 493.54 million last week as the bourse recorded increased activity this week. A total of 8.14 million shares were traded compared to 1.28 million shares exchanged last week.
Umeme dominated activity with 6.02 million shares changing hands to generate a turnover of Ushs 3.31 billion. Its share price held steady at Ushs 550. Stanbic Bank Uganda share price shed 11.1% to close at a new 52 week low of Ushs 24. The counter had 2.04 million shares exchanged to register a turnover of Ushs 49.03 million. Bank of Baroda moved 78,414 shares to realize a turnover of Ushs 11.76 million. Its share price was up 0.67% to Ushs 150 at the week’s close. Bank of Baroda Uganda Limited published its audited financial statements for the year ended 2015 today showing an 11.69% increment in net profit to Ushs 41.2 billion from Ushs 36.89 million in FY2014. The company’s board of directors recommended a dividend of Ushs 2.5 per share. National Insurance Corporation (NIC) had the least turnover with Ushs 32,400 from 2,700 shares traded. Its share price gained 9.09% to close at Ushs 12.
Among the cross listings, Uchumi Supermarkets share price fell by 12.58% to Ushs 132 while East African Breweries Limited (EABL) was the biggest gainer as its price was up 6.84% to end the week at Ushs 9,759.
The USE All Share Index appreciated by 0.96% to end the week at 1,784.61. On the other hand, The USE Local Share Index and C8* were down 3.5% and 3.22% to 389.54 and 122.92 respectively.
The Uganda Shilling weakened earlier in the week owing to a surge in demand for the greenback from the energy sector and commercial banks. However, this demand was eroded by the end of the week. It was quoted at 3,318 against the US Dollar as at Friday midday a slight gain from Monday’s close of 3,320.
