Weekly Market Wrap: Equities trading picks up on Umeme

KAMPALA - During the week, equities turnover at the Uganda Securities Exchange (USE) climbed to sh3.01b, spread across 9.65 million shares traded on five locally listed companies.

The week’s turnover was up from sh1.83b and 8.08 million shares traded the week before according to a market report from Crested Capital.

Driving much of that activity was Umeme. The counter was responsible for more than half the week's business, generating sh1.62b from 3.90 million shares traded.

MTN Uganda followed as the second major player, contributing sh1.37b. That accounted for 45.31% of the week’s total turnover.

Activity elsewhere was far lighter. Stanbic Holdings saw trades worth sh18.42 million. Airtel Uganda recorded sh14.04m. Uganda Clays Limited (UCL) had a quiet week, with trades totalling just sh97,500.

The USE All Share Index (ALSI), edged up 0.32% to finish the week at 1,286.92 points. However, the USE Local Companies Index, focusing solely on domestically listed firms, went the other way, dipping 0.61% to close at 338.37 points.

Price Movements

Among the local counters, MTN was the only one to see its share price shift, declining 1.43% to settle at sh262.58 from sh266.40 per share. Prices for the other active locals held steady; Airtel Uganda at sh80, Bank of Baroda Uganda at sh32.75, dfcu at sh253, NIC at sh5.1, and UCL at sh6.5.

Cross-Listings

Centum Investments dropped 4.91% to  sh318.31. Jubilee Holdings fell 3.51% to sh5,921.40, and Nation Media Group slipped 0.76% to sh332.21.

On the upside, East African Breweries gained 2.08% to close at sh5,268.1. Equity Group Holdings rose 1.82% to sh1,309.38, and KCB Group managed a modest 0.34% increase to sh1,235.71.

Kenya Airways performed well, climbing 2.16% to sh135.94.