Weekly Market Wrap: Shares worth sh4b move on Baroda counter

________________

At the close of the week, shares worth about sh4.9b exchanged hands during the trading week on the Bank of Baroda counter at the Uganda Securities Exchange (USE).

According to market data from Crested Capital, market turnover topped sh5.24b, with 184.9 million shares exchanging hands in comparison to a turnover of sh2.37b, which was generated from the trading of 19.43 million shares the previous week.

According to Crested Capital, the activity seen on the BOBU counter represents 1.21% of the total shares floated by the bank on the exchange.

MTN exchanged sh209.45m, which accounted for 4.0% of the week’s total trade. Stanbic Holdings followed, contributing sh85.26m to the total turnover, equivalent to 1.63%. Airtel recorded a turnover of sh19.94m.

Centum Investments (CENT), the only cross-listed entity with activity on the Ugandan bourse, traded sh2.74m. dfcu Limited dealt just sh0.11m, and NIC Holdings (NIC) saw minimal activity, moving only sh500.

On share price movements, Stanbic rose 1.95% to close at sh47.99 per share. dfcu Limited also posted growth, climbing 1.61% to sh252. On the flip side, Airtel saw its share price decline by 5.56% to close the week at sh85 per share while other counters remained unchanged.

Among cross-listed counters, Equity Group Holdings recorded the highest gain, surging 6.38% to close at sh1,351.80. Jubilee Holdings followed with an increase of 2.04%, ending the week at sh5,775.24. KCB Group and CENT also posted modest gains, rising 0.82% and 0.49% to close at sh1,091.35 and sh314.24, respectively.

Nation Media Group suffered the largest drop, losing 8.72% to close at sh309.99. Kenya Airways fell 3.66% to sh118.05 while East African Breweries declined by 1.69%.

The USE All Share Index reflected the positive momentum, rising 0.32% to close at 1,267.14. The Local Companies’ Index ended the week on a downward trend, falling 1.39% to close at 124.96.