Weekly Market Wrap: Six counters generate over sh2b turnover

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Last week, six counters on the Uganda Securities Exchange (USE) generated a total turnover of about sh2b, up from the previous week’s sh165m.

According to data from Crested Capital, a regulated broker by the USE, shows that a total of 7.8 million shares were exchanged during the review period.

MTN dominated trading during the week with a turnover of about sh2b. Stanbic exchanged sh7.1m, Airtel sh3.4m and Uganda Clays Limited sh0.17m.

Bank of Baroda (BOBU) and NIC Holdings (NIC) recorded minimal activity with a combined turnover of sh4,100 according to Crested Capital.

On share price movement, BOBU was the sole gainer, rising 4.0% to close at sh26. Airtel and MTNU saw declines, with Airtel dropping 2.33% to sh90 and MTN falling 0.74% to sh270 by week’s end.

Among cross-listed counters, KCB Group (KCB) led the gains, surging 3.83% to close at sh1,114.59, followed by Equity Group Holdings (EBL), which rose 2.85% to sh1,294.45.

On the downside, Centum Investments (CENT) plummeted 7.01% to sh325.74, while East African Breweries Ltd fell 5.90% to sh4,758.60. Jubilee Holdings Ltd dropped 4.51% to close at sh5,665.45.

Other notable decliners included Kenya Airways (KA) and Nation Media Group (NMG), which declined 6.02% and 3.48% to sh122.93 and sh365.39, respectively.

The USE All Share Index declined by 0.63%, closing at 1,265.42, while the local company index fell 0.77% to end the week at 126.60.