Weekly market turnover at the Uganda Securities Exchange (USE) witnessed a significant decline of 55.60%, dropping from sh2.9b the previous week to sh1.3b.

Seven counters recorded trading activities during the week, with the total volume of shares traded standing at 4.62 million shares according to market data from Crested Capital.

This week’s trading activity is a notable decrease compared to the previous week when 12.28 million shares were exchanged.

Umeme emerged as the leader in trading value, accounting for the lion's share of turnover at sh1.2b. Following closely was MTN, which contributed sh30.2m to the week's trading activity. Bank of Baroda (BOBU) recorded a turnover of sh12.4m, while Stanbic Uganda moved sh11.6m.

In addition, CiplaQCIL, NIC Holdings Limited (NIC), and Uganda Clays Limited (UCL) were also part of the trading activity during the week, accounting for turnovers of sh2.5m, sh0.7m, and sh78,039, respectively.

Share price movements

Umeme's share price experienced a positive shift, appreciating by 1.35% to close at sh415.00. Meanwhile, BOBU saw a modest increase of 0.67% to sh15.10, while Stanbic added 0.10% to sh31.00.

On the other hand, NIC and UCL faced challenges in the market. NIC recorded a loss of 5.00%, closing at sh5.70, and UCL saw a significant drop of 6.47%, closing at sh13.00.

Despite fluctuations in these counters, others remained relatively stable throughout the trading week. MTN maintained its position at sh170.00, while CiplaQCIL (CQCIL) held firm at sh65.00.

Cross listings

Cross-listed companies on the USE had a mixed week. Jubilee Holdings Limited and Centum Investments were among the gainers, with their share prices rising by 2.42% and 2.21%, respectively.

However, some cross-listed companies experienced losses, with East African Breweries Limited dropping by 4.00%, Equity Group Holdings falling by 2.62%, KCB Group edging down by 2.25%, and Nation Media Group declining by 0.47%.

The USE All Share Index (ALSI) recorded a decline of 1.34%, closing the week at 934.59. In contrast, the C10, which tracks Crested's local companies, showed a marginal increase of 0.14%, closing at 100.91.