16 January 2013

Uganda: Share Price Volatilities Recorded At Stanbic, Umeme Counters

The trading statistics released on Jan. 16 by the Uganda Securities Exchange (USE) indicate that the usual busy counters for Stanbic and Umeme, all recorded share price changes after the closure of the day's trading activity.

Stanbic's counter share price traded in the range of sh20 and sh25 for 441, 600 shares, recording a turnover of sh10mn. The counter's share price had remained flat sh20 in recent weeks.

Umeme, which recorded zero traded shares on Jan. 15, had its share price marginally dropping to sh295 from sh300, recorded a few days recently. The company's share price had stayed flat sh275 since December last year when it entered the USE. The company traded 1.3mn shares at a turnover of sh387mn.

Other counters didn't trade at all, but recorded bids and offers. Baroda, DFCU, NIC had 60, 431, 59, 000, 14, 655 as recorded bids respectively. The NIC counter also recorded 267, 780 shares on offer.

The NVL and UCL counter only recorded offers of 256, 098 and 520, 564 respectively.

The market recorded a turnover of sh398mn after trading 1.7mn shares.

Analysts say officials behind the Kampala bourse have to come up with tangible innovations to boost trading activity that is dominated by a few companies out of the 15 listed.

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