David Mugabe
4 November 2009
Kampala — THE week opened on a sluggish note with only DFCU Bank trading on Tuesday at sh550 per share.
The bank realised sh6.9m in turnover, which was an improvement from the sh1.3m attained last week. It was also an improvement in volumes, up from 2,525 shares to 12,500 shares.
The bank's shares traded at sh535 per share the previous week.
The development at the bourse is a stark contrast to the rebound of last week where The New Vision dictated issues as the company shareholders gathered in Kampala.
There was no trading on the counters of Stanbic, BATU, East African Breweries, Equity Bank, Kenya Airways, KCB, Uganda Clays and Bank of Baroda on Tuesday.
There was, however, a block bid for sh1.6m Stanbic shares, while 37,201 shares were on offer.
Last Tuesday, there was an outstanding bid for 1,000,000 shares at sh155.
Meanwhile, the third quarter report from the Uganda Securities Exchange indicates that trading volumes moved to 30.2 million, up from 24.5 million in the last three months ending September.
The development was a green light at an exchange that witnessed months of suppressed trading.
"Equities turnover rose by about 43% to sh4.9b from sh3.4b recorded in the previous quarter," reads the report. The report also notes that the most dominant and liquid counter during this time was Stanbic Bank.
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