Business
Stock Market: 2.4 billion shares changed hands in 2013
Publish Date: Jan 23, 2014
Stock Market: 2.4 billion shares changed hands in 2013
  • mail
  • img
newvision

By David Mugabe

The stock market concluded deals worth over sh245 billion in 2013, a massive improvement from the previous year, a report indicates. The Uganda Securities Exchange report showed a marked rise from the sh26b obtained in 2012.


2013 was mainly boosted by corporate action including the opening trading sessions after  Umeme’s initial public offer, DFCU share sell as well as major deals on the Stanbic counter.

There were 5205 deals with a total of sh245 billion deals after a total of over 2.4 billion shares were sold.

The biggest deal was in May 2013 when turnover peaked sh139b after 524m shares were sold. Stanbic bank had 2339 deals overall- the most among all the 12 listed companies at the exchange followed by Bank of Baroda.

But some companies like NMG and Equity Bank had single deals in the entire year.

In the last quarter of 2013 (October –December), the local share Index rose steadily during the period with many local counters experiencing a rally in prices, according to a quarterly report from the stock market.

“The local index started the session at 239.04, moved to 259.85, dipped at 254.45 but closed at 265.11 an 11% gain during the period,” says the report.

The USE is still pushing to get a new chief executive since the exit of Joseph Kitamirike in 2013.

 

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Dubai insurer set for Uganda
The new firm will enter into strategic partnerships to oversee, design, and control processes of selected licensed brokers....
Textile manufacturers want the national textile policy implemented
Textile industries are pushing for the implementation of a National Textile Policy. They also want government institutions compelled to buy textiles from local companies....
BOU has no influence on govt spending
There have been allegations in the media that Bank of Uganda printed money for the 2011 elections, which led to the high inflation rate at the time....
UAE Exchange honoured at FiRe Awards 2014 in Uganda
UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has been honoured with the Certificate of Recognition for Outstanding achievement in Financial Reporting under Forex Bureau category in FiRe Awards 2014 in Uganda....
Pakistan to facilitate Uganda businessmen to exhibit in Karachi
A section of Ugandan business comminity is set to widen its business scope into Pakistani following new interventions to boost economic ties between the two nations....
Tourism board to use PR firms to market Uganda
The Uganda Tourism Board (UTB), the body charged with marketing the country as a tourism destination of choice, has adopted the use of foreign public relations firms to sell Uganda after traditional marketing registered minimal success....
Should workers be subjected to a 4% Health Insurance Tax??
Yes
No
Can't Say
follow us
subscribe to our news letter