Weekly Market Wrap: Market turnover jumps to sh3.7b
According to the Crested Capital market report, the spike in activity was largely driven by heavy trading in MTN, Stanbic Holdings, and NIC Holdings, which together accounted for more than 90% of all market action.
Weekly Market Wrap: Market turnover jumps to sh3.7b
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Turnover surged to sh3.74b from just sh194.7m the week before at the Uganda Securities Exchange (USE).
According to the Crested Capital market report, the spike in activity was largely driven by heavy trading in MTN, Stanbic Holdings, and NIC Holdings, which together accounted for more than 90% of all market action.
MTN moved sh1.59b worth of shares. Stanbic followed closely with sh1.17b while NIC Holdings exchanged sh785.7m. Bank of Baroda came in fourth with sh182m. Smaller volumes came through from QCIL, Airtel, Umeme, and dfcu Bank.
MTN’s share price climbed 3.7% to sh305.94, while Stanbic rose 4.05% to close at sh65. NIC Holdings gained 4% to sh5.2, and Airtel edged up 2.4% to sh84.
Among the laggards, dfcu dropped 6% to sh300, QCIL slipped 0.8% to sh119, and Baroda eased 0.2% to sh47.
Trading in British American Tobacco, Uganda Clays, and New Vision remained flat at sh15,000, sh6.5, and sh150, respectively.
On cross-listed counters, KCB Group jumped 6.4% to sh1,710, while East African Breweries rose 5.4% to sh6,476. Equity Group climbed nearly 16% to sh1,886, and Centum Investment gained almost 5% to sh412.36. Nation Media Group, however, lost 2.9% to close at sh352.87.