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
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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.

 

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