Bank of Baroda Uganda continues dominance on the USE

Wednesday, 3rd August, 2011

Total market turnover rose to sh934.5m from sh168.2m, buoyed by major deals on the Bank of Baroda and Uganda Clays (UCL) counters.

Volumes also shot up to 3.2 million from 683,722, again boosted mainly by Baroda and UCL.

For the second week running, Baroda posted major gains, generating 98% of the market activity. It traded at an average price of sh291.

Uganda Clays sold 221,029 shares, picking sh11m in turnover, a rise from last week?s sh2.4m turnover. The firm?s average price was unchanged at sh50.

Activity on the Stanbic Bank Uganda counter slowed to a turnover of sh2.1m, from sh19m of the previous week.

The bank?s volumes also fell to 15,000 from 133,544. There were, however, unfulfilled offers of 442,892 shares.

dfcu Bank was back to activity on Tuesday, earning sh2.7m in turnover after selling 2,700 shares

BATU shares sold dropped to 200 from 900 shares, earning sh250,000 turnover from sh1.1m last week.

Supply on the UCL counter remained high at 448,201 with little marching demand of 42,473 shares.

The All Share Index further dropped to 1,024.32 from 1,030.52, while the locally-quoted share index also fell to 215.97 from 219.05.

By David Mugabe : The New Vision Newspaper