Trading at the Uganda Securities Exchange (USE) slumped to a turnover of Ugsh 80.4m from over Ugsh 500m in the previous week.

Last week's decline is evident in the few shares that were traded at the various counters. Stanbic bank which had bounced back earlier in the week to record a turnover of Ugsh 54m at Shs 160 as the share price would at the end of the week slump to Shs150 per share and a turnover of just Shs21m by the end of trading. The other counters notably New Vision also slumped as trading went down. In the previous week New Vision was leading in the number of shares traded and turnover. At the securities exchange the activity continues to remain less as the all share index continues to drop. Since the beginning of the year the all share index has been dropping. The slump has been caused by the limited confidence to invest in the 8year old stock exchange.

The statistics from USE show that at the end of trading last week the there was a huge mismatch in Stanbic Banks share price as it dropped from shs160 to shs155 and then shs150. On offer there were over 2.8 million shares at shs160 but the bids were at 2million shares at 155. This explains why fewer deals were at the Stanbic counter by at the close of trading. The banks share price dropped by 6.25 percent. The DFCU bank and Bank of Baroda counters are the counters that recorded a rise in the share price. 1.8% and 1.7% respectively.