Market Wrap: Airtel leads weekly price gains

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Airtel Uganda’s share price climbed 3.23% week on week to close at sh115.62 per share at the Uganda Securities Exchange on March 19.

Crested Capital said in its market commentary said in a report that trading activity slowed, with six counters moving a combined sh1.79b from 13.9m shares, down from sh3.14b recorded the previous week, when volumes were more than double.

In the trading week, MTN Uganda exchanged sh1.31b from 2.75m shares traded. Umeme Limited traded sh267.98m, while Bank of Baroda Uganda and Stanbic Holdings traded sh121.19m and sh84.27m respectively.

Airtel, despite leading on price gains, saw relatively modest activity, with sh10.90m traded across 96,477 shares.

On other share price movements at the bourse, Bank of Baroda rose 2.39% to sh49.18, while MTN added 1.15% to close at sh477. Stanbic slipped 1.29% to sh77.98. Umeme extended its losing streak, dropping 18.32% to sh57.99.

Among cross-listed stocks, Kenya Airways lost 3.81% to sh155.45 per share. Centum Investment Company rose 4.40%, followed by Equity Group Holdings up 3.85%, and East African Breweries added 2.75%.