Stock market: Stanbic Bank dominates trading as Umeme price falls

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Market turnover fell to Ugx 2.5Bn ($742,679) from Ugx 5.12Bn ($1.52Mn) last week as the bourse registered less activity. Stanbic Bank Uganda dominated trading with 75.47 million shares changing hands to register Ugx 2.04Bn in turnover. Its share price held steady at Ugx 27. UMEME  share price was down 1.13 percent to Ugx 525.


The counter traded 872,478 shares to realize a turnover of Ugx 458.22Mn. Bank of Baroda Uganda, New Vision Limited  and Uganda Clays Limited  moved 41,916 shares, 2,800 shares and 118,400 shares to generate turnover of Ugx 5.46Mn, Ugx 1.54Mn and Ugx 1.54Mn respectively.

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The BOBU and NVL share prices were stable at Ugx 137 and Ugx 550 respectively while UCL was up 8.33 percent to Ugx 13. DFCU  recorded a turnover of Ugx249,600 from 312 shares exchanged. Its share price gained 0.38 percent to close at Ugx 800.


Among the cross listings; Kenya Airways  posted the biggest gain of 16.81 percent to Ugx 132 while Equity Bank Limited  was the biggest loser as its price shed 2.97 percent to end the week at Ugx 850.


The USE All Share Index gained by 1.41 percent to close the week at 1,443.99. The USE Local Share Index and C8* were down 0.16 percent each to close the week at 392.69 and 123.57 respectively due to the price dip registered on UMEME.

The Uganda Shilling was mainly stable at the start of the week due to low demand for dollars as companies held on to the local currency to meet mid-month tax payments and later posted marginal gains supported by the central bank’s liquidity mop-up via a repo. It was quoted at 3,372.71 as at midday on Friday.

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