Business
46 million Stanbic shares on demand
Publish Date: Feb 20, 2014
46 million Stanbic shares on demand
Stock brokers trading. Banking remains attractive on the stock market as listed banks maintain a steady level of liquidity
  • mail
  • img
newvision

Stanbic Bank returned to the fore of activity, selling 1,064,500 shares on Tuesday with turnover of sh32m after trading ended at an average price of sh30 per share.

This was 85% of the day’s total traded value.

There, however, remains overwhelming demand on the Stanbic counter, reaching 45.6 million shares on Tuesday. Demand is rising by the week as the bank is close to announcing its annual results alongside all listed companies as part of statutory requirements.

Investors have, according to analysts, positioned to cash in on the post announcement dividend, a situation which has driven up the demand, although current shareholders are reluctant to give away their positions, creating the price mismatch.

The New Vision traded at a high of sh605 and realised turnover of sh396,275, with 655 shares traded. The all share index, which is a barometer that compares the trading, closed at 1383.72 points.

Four companies traded on Tuesday.  Overall, 1,080,164 shares exchanged hands with turnover at sh37.6m.
Umeme sold 14,500 shares, picking sh5.2m in turnover. The utility company traded at an average of sh365 per share.
Uganda Clays sold 509 shares at an average price of sh25, with turnover at a low sh12,725.

Banking remains attractive as listed banks maintain a steady level of liquidity in a market where liquidity has, to a large extent, dried up while trading volumes are quite low.

Commercial banks are, however, still grappling with restoring the uptake of commercial loans that dried up and continues to recover slowly following the double digit inflation that peaked over 30% about two years ago.

The inflation pushed up borrowing rates.

 

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
Famba owes his success to his father
EVEN though he never made it to secondary school, with the skills he acquired from his father, Muhammad Famba now earns a living...
Mobile Money operations illegal, judge rules
COURT has pronounced that mobile money business operated by the five major telecommunication companies is illegal...
Nigeria
Nigeria's outgoing agriculture minister Akinwumi Adesina won the vote Thursday to become the new president of the African Development Bank, official results showed....
Anglican Church launches Namugongo water bottling plant
The Anglican Church has commissioned the construction of the Namugongo water bottling plant worth sh 500m....
Court orders Shoprite Naalya to reopen
NAKAWA High Court has ordered Naalya shoprite to reopen following an interim order issued by the acting Registrar, Flavia Nassuna Matovu...
Agriculture sector impresses in budget report
AGRICULTURE projects and programmes in Uganda are performing impressively on expenditure of funds allocated to them, according to the 2014/2015 Semi-Annual Budget Monitoring Report...
Should medical students be subjected to pre-admission exams?
Yes
No
Can't Say
follow us
subscribe to our news letter