Weekly Market Wrap: Turnover increases to sh1.8b

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Turnover at the Uganda Securities Exchange (USE) rose to sh1.83b during the trading week as activity picked up across nine counters.

According to a market report by Crested Capital, more than 8 million shares exchanged hands over the five-day trading period. MTN accounted for sh1.77b from 6.6 million shares traded.

Stanbic Holdings exchanged 1.15 million shares, generating sh54.7m. Airtel Uganda moved 120,000 shares worth sh9.38m, while Bank of Baroda posted sh1.96m from just under 60,000 shares.

Other counters that saw activity included Uganda Clays (sh510,000), NIC Holdings (sh200,000 from 39,160 shares), and a brief return by Umeme Limited, which traded only 12 shares following the recent lifting of its suspension.

Quality Chemical Industries also posted light activity, exchanging 14 shares worth Shs1,246.

On share price movement, MTN rose by 2.07% to sh266.40 per share. NIC Holdings gained 2% to sh5.10 per share, while Bank of Baroda edged up 0.77% to close at sh32.75. Stanbic dipped by 0.52% to sh47.50.

Among cross-listed stocks, East African Breweries gained 2.62% to sh5,160.58, while Nation Media Group rose 2.69% to match Centum Investments at sh334.74.

Equity Group and KCB Group both registered gains of 1.56% and 1.62%, respectively. Jubilee Holdings inched up 0.13% to sh6,136.90.

Kenya Airways and Centum Investments were among the few losers in the cross-listed segment, dropping by 1.11% and 0.29% respectively.