Weekly Market Wrap: Baroda stock gains by 5%

KAMPALA - Trading on the Uganda Securities Exchange picked up last week with turnover jumping to sh404.9m, more than triple the sh120.6m recorded the week before, according to Crested Capital’s weekly market report.

On share price movement, the Bank of Baroda was the strongest performer, climbing 5% to sh42.

Quality Chemicals gained 4.55% to close at sh115, while Stanbic rose 2.83% to sh54.5. MTN inched up 1.89% to sh274.08, and dfcu limited edged 1.06% higher to sh258.71 per share.

Counters that held steady included Airtel at sh80, Uganda Clays Limited at sh6.5, Umeme at sh415, NIC at sh5, BATU at sh15,000, and New Vision at sh151.

Market activity was spread across ten counters, but two telecom giants carried the bulk of the week’s trades. MTN Uganda moved sh200.9m, which accounted for nearly half of the total market turnover.

Airtel Uganda followed closely with sh160.7m, contributing about 40%. Uganda Clays Limited came in third, trading sh15.7m, while Bank of Baroda Uganda exchanged sh13.7m.

Other counters, including Stanbic Holdings, Quality Chemicals, and dfcu limited, saw lighter trades ranging from sh2m to sh6m. Other stocks, including NIC, Umeme, and New Vision, barely featured, together turning over less than sh0.4m.

Cross-listed stocks also saw a mix of gains and losses. Kenya’s KCB Group surged 10.78% to sh1,504.2.

East African Breweries rose 4.05% to sh5,947.8, Equity Bank lifted 3.56% to sh1,538.7, and Jubilee Holdings grew 2.22% to sh7,755.6.

Nation Media Group was also up, gaining 0.67% to sh379.5. On the downside, Centum slipped 0.11% to sh325.68 and Kenya Airways dropped 0.95% to sh129.72.