Weekly Market Wrap: Equities turnover drops 94% in quiet week

KAMPALA - Trading activity on the Uganda Securities Exchange (USE) slowed sharply this week, with total turnover falling 94% to sh67.57m, down from sh1.15b last week.

Volumes also dipped according to market data from Crested Capital with just 3.41 million shares traded compared to 24.44 million the previous week. Only seven counters were active.

MTN Uganda led the market in turnover, exchanging shares worth sh21.16m. Uganda Clays (UCL) followed with sh20.24m.

Stanbic Holdings moved shares worth sh14.61m, accounting for about 22% of total trades. Airtel Uganda saw sh9.04m in turnover.

Bank of Baroda (BOBU) and Quality Chemicals Limited (QCIL) traded sh1.82m and sh690,000 respectively. NIC Holdings posted a turnover of sh110,000.

In terms of price movements, BOBU rose 6.48% to close at sh30.08 per share. QCIL gained 2.3% to sh89 while MTN edged up 0.09% to sh270 per share.

UCL was the only local decliner, falling 8.38% to close at sh7. Prices for Airtel Uganda, Dfcu, Stanbic and New Vision remained unchanged at sh84.5, sh252, sh47.5 and sh152, respectively.

Among cross-listed companies, Centum rose 9.14% to sh342.12. Jubilee Holdings climbed 6.93% to sh6,220.39, and Kenya Airways added 5.11% to sh125.26.

KCB Group and Equity added 3.3% and 1.48%, closing at sh125.26 and sh1,378.38, respectively. Nation Media Group was down 1.95% to sh335.05.