Weekly Market Wrap: Turnover falls, Stanbic leads trades

KAMPALA - Trading on the Uganda Securities Exchange (USE) slowed this week as turnover dropped 78.08% to sh1.15b from sh5.2b last week. Total volumes also declined to 24.44 million shares from 184.90 million.

Seven counters traded during the week according to data from Crested Capital, with Stanbic Holdings leading the weeks activity. The counter generated slightly over sh1b in turnover, making up 92.9% of total market value.

Bank of Baroda Uganda (BOBU) followed, trading shares worth sh49.45m or 4.31% of the weekly turnover. MTN Uganda moved shares worth sh25.27m, contributing 2.20%.

Airtel Uganda accounted for 0.56% of turnover with sh6.45m in trades. Uganda Clays Ltd (UCL) and NIC Holdings recorded minor activity at sh320,000 and sh30,000 respectively. Centum Investments (CENT) posted the lowest turnover at just sh990.

On price movements, five locally listed counters registered price changes this week. BOBU gained 4.63% to close at sh28.25 per share while UCL rose 1.87% to sh7.64 per share.

On the losing end, Stanbic fell 1.02% to sh47.5 per share. Airtel Uganda edged down 0.59% to sh84.5 per share while MTN slipped 0.09% to close the week at sh269.75 per share.

Among the cross-listed stocks, East African Breweries Ltd (EABL) posted the strongest gain, rising 11.27% to sh5,386.78. Nation Media Group (NMG) climbed 10.23%, while KCB Group rose 5.83% to sh1,155.02. Kenya Airways gained 0.95% to close at sh119.17 per share.

Equity Group Holdings (EBL) and Jubilee Holdings Ltd (JHL) posted smaller gains of 0.48% and 0.73% respectively, ending the week at sh1,358.34 and sh5,817.44.

The USE All Share Index rose 2.28% to 1,295.97 points. The Local Companies Index edged up 0.12% to close at 125.11.