Stanbic, MTN edge higher as Umeme slides

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Stanbic Uganda Holdings led the gainers at the Uganda Securities Exchange, with its share price rising by 0.79% to sh79.03 per share as of the close of trading on Monday. MTN Uganda also edged up, gaining 0.65% to sh464 per share.

Umeme dropped to 129.8 per share from last week’s close of 133.12. Other counters remained unchanged in the day's trading session.

Last week, Bank of Baroda added 2.08% to sh49, while Airtel Uganda touched its highest level since listing at sh101, about 1% above its IPO price. Umeme experienced its heaviest drag during the review week, falling 24.79% to sh133.12.

Quality Chemicals Industries slipped 0.87% to sh119.95, and New Vision declined 0.67% to sh149. DFCU and Uganda Clays ended the week unchanged at sh306 and sh5, respectively.

Market turnover during the trading ending February 27 fell to sh2.61b from sh6.27b the previous week, although volumes traded rose to nearly 27.0 million shares from about 18.1 million, according to market data from Crested Capital.