Kampala — This week the bourse witnessed increased activity with at least five of the eight locally listed counters and one cross listed counter (Nation Media Group) realizing a rare trade.
According to the analysts, the moves especially on the Stanbic Bank counter that witnessed increased activity were being made by institutional investors for the long term as they forecast good performance of the financial institution.
Dan Edoma, a Securities Analyst with African Alliance says that the increased activity at the bourse was also partly as a result of students going back to school and retail investors are cashing in on their shares whereas the institutional investors are taking up the shares.
"This is the time when S.5 (Form fives) are reporting for school and retail investors are looking to the bourse as an area to get money for the fees.
"There is no corporate announcement that has been made to trigger off the activity," Edoma told the East African Business Week last week.
At the beginning of the week (Monday February 18, 2013) Stanbic Bank traded 20 million shares to post a turnover of Ush500 million ($190,000) in one trading session. Five locally listed counters and one cross listed counter also traded on that day.
The following day however, the bourse had minimal activity today with only three listed companies making trades on their counters.
UMEME had the highest turnover of Ush175million ($67,000). Stanbic Bank Uganda generated a turnover of Ush39 million ($15,000) while National Insurance Corporation (NIC) made a turnover of Ush979,405 ($370).
Wednesday was also slow with subdued activity at the bourse with only three counters making trades.
However, Thursday had lots of activity that saw five of the eight listed companies trading their shares.
A cross listed company, Nation Media Group (NMG), traded today realising a turnover of Ush1.6 million ($615) from trading 200 shares. Stanbic Bank Uganda made the highest turnover of Ush193.2million ($74,000). UMEME had a turnover of Ush46.6million ($18,000).
Friday's trading session was also active with five counters trading and a total turnover of Ush230 million ($88,000) was realized from the bourse.