Weekly Market Wrap: USE sees slow activity

Turnover at the Uganda Securities Exchange declined during the trading week, with turnover plummeting 93% to sh202m from sh2.9b traded the previous week.

Telecom firm MTN Uganda led the trading chart, accounting for nearly half of the total turnover during the week, followed by Bank of Baroda (BOBU) and Stanbic.

MTN exchanged a turnover of sh93.8m according to a market report from Crested Capital. BOBU followed with sh41.1m, Stanbic exchanged sh37.9m, Airtel Uganda moved sh15.4m, Umeme traded sh15.5m and Uganda Clays Limited (UCL) moved a paltry sh29,120.

The market recorded mixed price movements, with MTN being the sole gainer, edging up 0.28% to sh205.88 per share. Airtel Uganda, Umeme, and BOBU declined 3.08%, 2.38%, and 0.28%, respectively.

Regional cross-listings saw Jubilee Holdings, Equity Group Holdings, Centum Investments, and KCB Group post gains, while East African Breweries Limited and Nation Media Group fell.

The USE All Share Index (ALSI) dropped 1.77% to 1157.01, while the C11 Index slipped 0.74% to 104.94.