18 January 2013

Uganda: Stocks Slide Amid Share Price Volatilities

The Ugandan stock market has today recorded the lowest trading volumes since the week started amid volatile share prices for the busy counters. The market traded 112, 445 shares raising sh15mn as total turnover.

The last time the market recorded lower volumes was on Jan. 15 and it did sh49 compared to sh319 mn recorded on Jan. 14, and sh 398mn on Jan. 16.

Umeme's share price has again dropped back to the Initial Public Offer level of sh275 after it firmed at sh300, a few days earlier.

The counter's (Umeme) performance continues to fail traders to predict the actual performance of its share price in the months ahead.

The Uganda Securities Exchange (USE) trading statistics released today (Jan. 17) indicate that the power distributor's counter traded 46, 170 shares at a turnover of sh 12mn. The closing share price went down to sh275 from sh300, earlier.

The Uganda Clays counter traded 51, 914 shares, recording a turnover of sh1.8mn at a sh35 share price. The NIC counter traded 13, 986, recording a turnover of sh489, 510 at sh35 price. DFCU traded only 375 shares at a turnover of sh375, 000, at sh1, 000 share price.

The other counters traded zero shares.

Copyright © 2013 The Independent. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.