Uganda Clays gains, turnover low

Wednesday, 25th May, 2011

AFTER several weeks of inactivity, Uganda Clays (UCL) made gains on Tuesday, moving one million shares at an average sh30 per share.

The clay maker posted sh30m in turnover with another 1.1 million shares bid for, but not bought.

It was another free-fall day as turnover declined further to sh43m, from sh60.3m. Total number of shares traded, however, rose to 1,028,239, from 143,951.

New Vision is on a steady share price gain, registering a sh40 increase in one week, from sh800 to sh840 this week. The media company’s overall traded value was the second-biggest on Tuesday after UCL at sh7.6m.

This was, however, lower than the traded value of the past week, which stood at sh8.7mn.

New Vision sold 9,075 shares, from the 10,895 shares of the past week at an average sh800 per share. But the number of unfulfilled share bids fell to 32,127 from 50,000 shares.

Stanbic Bank posted the least turnover of sh5.3m, from sh10.5m, on one of its least active days in which only 19,164 shares were sold. Stanbic Bank is the most liquid company at the USE. Nonetheless, the bank’s average share price shot up to sh278 from sh270.

With confirmation, however, that the bank is set to do a bonus share issue, increasing activity in the second quarter.

NIC did not trade. The local All Share Index rose to 359.77, from 352.59, while the All Share Index increased to 1,184.02, from 1,179.65 points.

By David Mugabe: The New Vision Newspaper