Business
Weekly Market Wrap: MTN, Stanbic drive market turnover to sh14b
The value traded was more than 20 times the previous week's level as investors exchanged 42.24 million shares, compared with 21.75 million shares in the preceding week, according to Crested Capital’s weekly market update covering August 10 to 14.
Weekly Market Wrap: MTN, Stanbic drive market turnover to sh14b
By: Ali Twaha, Journalist @New Vision
_________________
Total market turnover jumped to slightly over sh14b from sh666.4m the previous week, driven largely by heavy trading in MTN and Stanbic shares at the Uganda Securities Exchange (USE).
The value traded was more than 20 times the previous week's level as investors exchanged 42.24 million shares, compared with 21.75 million shares in the preceding week, according to Crested Capital’s weekly market update covering August 10 to 14.
MTN accounted for the bulk of the activity, with 29.47 million shares changing hands at a value of sh12.82b. Stanbic Holdings followed with 12.55 million shares worth sh1.18b.
Airtel recorded sh16.89 million in turnover, while Baroda traded sh6.85 million. Quality Chemical Industries, Umeme, New Vision and Uganda Clays together accounted for less than sh1 million in turnover.
The sharp increase in trading activity lifted the USE All Share Index by 1.22% to 2,239.80 points, while the Local Companies' Index rose 2.16% to 209.87.
Airtel recorded sh16.89 million in turnover, while Baroda traded sh6.85 million. Quality Chemical Industries, Umeme, New Vision and Uganda Clays together accounted for less than sh1 million in turnover.
The sharp increase in trading activity lifted the USE All Share Index by 1.22% to 2,239.80 points, while the Local Companies' Index rose 2.16% to 209.87.
Stanbic was the strongest performer with its share price rising 11.38% to a record sh95.14. Bank of Baroda gained 0.73% to sh60.44 per share, while Airtel added 0.43% to sh170 per share.
MTN, despite being the most actively traded counter, remained unchanged at sh435. New Vision held at sh149, Quality Chemical Industries at sh160, Uganda Clays at sh7.10 and Umeme at sh63 per share.
Among cross-listed companies, Nation Media Group rose 3.46% to sh339, Equity Group gained 4.11% to sh2,561.92, and KCB Group increased 1.21% to sh2,468.63.
Centum Investment fell 6.28% to sh513.82, East African Breweries dropped 5.58% to sh7,771.88, Kenya Airways declined 2.07% to sh155.01, and Jubilee Holdings lost 0.76% to sh11,316.95.
MTN, despite being the most actively traded counter, remained unchanged at sh435. New Vision held at sh149, Quality Chemical Industries at sh160, Uganda Clays at sh7.10 and Umeme at sh63 per share.
Among cross-listed companies, Nation Media Group rose 3.46% to sh339, Equity Group gained 4.11% to sh2,561.92, and KCB Group increased 1.21% to sh2,468.63.
Centum Investment fell 6.28% to sh513.82, East African Breweries dropped 5.58% to sh7,771.88, Kenya Airways declined 2.07% to sh155.01, and Jubilee Holdings lost 0.76% to sh11,316.95.