On the Equity Market | Stock Analysis 02-April-2012
On the stock exchange, Stanbic Bank sold 293,984 shares at an average of sh100 per share, which resulted into turnover of sh29.3m.
Stanbic Bank remains an attractive counter even with the low level of activity at the bourse. There were bids for some 403,442 Stanbic shares that were not taken up.
In all, three companies sold shares on a day of slightly improved activity.
The New Vision also pushed through 2,913 shares at sh650 per share, which resulted into sh1.9m in turnover. There was another offer for 2,037 New Vision shares.
Meanwhile, Uganda Clays sold 99,900 shares at an average sh35 per share, picking sh3.5m in turnover. Tuesday ended with sh35m in total turnover, with a total 396,707 shares traded.
Following the winding up of unit trusts, market reports from the Uganda Securities Exchange have now fallen short of one product, which analysts say the industry must address urgently because it may affect the attractiveness of other products.