Umeme Friday posted a 7.14% rise on its share price valuation at the stock market as demand continue to outstrip supply.  

Data from the Uganda Securities Exchange (USE) show that the power distributor’s price appreciated by 7.14% to sh300 per share. On the other hand, during the week, Stanbic’s stock rose 4.79% to sh21.

Total market turnover dipped 13.78% to sh1.6b from sh1.8b dealt last week, according to data from Crested Capital.

During the week, volumes traded fell from 12 million shares to 9 million shares across five counters that posted activity.

According to Crested Capital, MTN dominated market activity with a turnover of sh1.1b from 6.1 million shares, Umeme dealt sh460m from 1.5 million shares, and Stanbic exchanged sh25m from 1.1 million shares.

NIC Holdings Limited (NIC) moved sh0.50m from 0.1 million shares and CiplaQCIL traded just sh0.1m from 3,000 shares.

The USE ALSI index advanced by 0.65% to 1,223.16 while the C10, Crested’s local companies’ index advanced by 1.14% to 96.90.

Cross-listed counters

Among the cross-listed counters, Nation Media Group and Centum Investments both declined by 0.45% and 0.16% respectively while Jubilee Holdings Limited led gains with 1.87% added to its share price. 

Equity Group Holdings appreciated by 0.64%, KCB Group was up 0.61% and East African Breweries Limited closed the week 0.13% higher.