Turnover drop continues on the Uganda Securities Exchange

Friday, 19th August, 2011

TURNOVER at the bourse dipped to sh8m on Tuesday, from sh327m. Most counters also registered suppressed activity.

All the four active counters registered declines in volumes and value.

With sh1.7m in turnover, Stanbic Bank registered a major decline, which was a far cry from last week’s sh309m.

Dfcu Bank traded volumes edged slightly to 355 shares from 153 shares, while turnover also rose slightly to sh323,610 from 153,765.

The bank had on Monday served a notice withdrawing its cautionary announcement on the possible transfer of a substantial number of shares. It said discussions had been concluded on the matter that was expected to result in a major change in ownership of shares.

“There shall be no share transfer, the cautionary announcement in issue is therefore withdrawn,” read the notice.

Uganda Clays (UCL) turnover slowed to sh4.3m from sh6.9m. Traded volumes fell to 78,884 from 127,070. UCL closed at an average sh54 per share price.

Bank of Baroda had a sharp decline in turnover at sh1.8m, from sh11.6m last week.

It closed at an average of sh289.

New Vision had unfulfilled offers of 1.3 million, the highest offer of the day.

Total turnover was sh8m, while overall traded shares at the Uganda Securities Exchange were 96,265.

The All Share Index dropped to 1,007.05, from 1009.03 last Tuesday.

while the locally quoted share index rose to 220.62 from 220.215.97.

By David Mugabe: The New Vision Newspaper