Securities turnover dips

Dec 08, 2005

TURNOVER at the Uganda Securities Exchange (USE) was sh3.8m during the week compared to sh1.6m last Thursday.

By Vision Reporter

TURNOVER at the Uganda Securities Exchange (USE) was sh3.8m during the week compared to sh1.6m last Thursday.

Dfcu was the only active counter and recorded sh97,750 in turnover after 230 shares exchanged hands at sh425 each, a sh5 gain in the share price from sh420 last Thursday.

Tuesday’s session saw Uganda Clays with sh3.3m in turnover after trading 200 shares at sh16,600 each and dfcu sh469,200 after trading 1,104 shares at sh425.

Davis Gathaara of Mbea Brokerage Services said it was normal around this time to have limited activity on the stock exchange as people prepare for the festive season.

“People who wanted to buy shares have done it ahead of the Christmas season, but we hope to stir up the market next year to boost activity on the exchange with expected new products,” Gathaara said.

The all share index dropped by 9.71 points to 693.60 from 703.31 last week due to a slip in the share prices on some counters.

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