Weekly Wrap: USE turnover hits sh5.3b, share prices mostly stable
MTN Uganda was at the centre of this rally, accounting for nearly all of the week’s total turnover. The telecom firm traded sh5.33b worth of shares, representing 98.9% of the market’s value.
Uganda Securities Exchange (USE) picked up pace in the final week of July, with turnover jumping to sh5.39b from just sh275.5m the previous week.
By Ali Twaha
Journalists @New Vision
KAMPALA - Trading activity on the Uganda Securities Exchange (USE) picked up pace in the final week of July, with turnover jumping to sh5.39b from just sh275.5m the previous week, according to Crested Capital’s market report.
MTN Uganda was at the centre of this rally, accounting for nearly all of the week’s total turnover. The telecom firm traded sh5.33b worth of shares, representing 98.9% of the market’s value. More than 20.8 million MTN shares changed hands over the five trading days.
Uganda Clays followed, albeit on a much smaller scale, moving sh20.7m worth of shares, or 0.38% of the weekly turnover.
Stanbic Holdings came third with sh19.8m, while Airtel Uganda and Bank of Baroda posted trades worth sh15.4m and sh2.2m respectively.
Quality Chemicals Industries Limited (QCIL) traded sh530,000, dfcu moved sh360,000, and National Insurance Corporation (NIC) saw trades worth just sh100. Umeme traded sh830, while New Vision Limited (NVL) saw transactions worth only sh15,200.
The total turnover for July stood at sh10.78b, about $3.01 million.
On the index front, the All Share Index (ALSI) rose 2.15% to close at 1,364.93 points, driven by gains on several cross-listed counters. The Local Companies Index, which tracks local companies, edged up 0.67% to 125.26.
Price movements
QCIL was the top gainer, rising 7.14% to close at sh105. MTN gained 1.11% to end the week at sh259.58, while Airtel inched up 0.15% to sh80. Uganda Clays, the only loser, fell 3.38% to sh6.28.
The rest of the domestic counters held steady: NVL (sh152), Umeme (sh415), NIC (sh5), BATU (sh15,000), Stanbic (sh51), and Baroda (sh40).
Among the cross-listed stocks, East African Breweries Limited (EABL) rose the most, up 13.87% to close at sh6,269.24. Centum gained 0.77% to sh319.01, Equity Bank (EBL) was up 0.39% to sh1,393.94, and Jubilee Holdings (JHL) edged up 0.10% to close at sh6,629.86.
KCB Group fell 1.97% to close at sh1,313.49, while Kenya Airways shed 2.03% to end at sh141.47.