Uganda’s financial market in optimism

Wednesday, 13th April, 2011

HERE is growing optimism in the financial market as institutions approach the end of April deadline for publishing their 2010 year end results.

This week, Baroda is expected to unveil its year end results while Barclays bank published its results over a week ago showing profits for the first time after several years.

Total market traded value and volume, however, dropped to sh57m and 316, 972 respectively from sh150m and 274,118 in the past Tuesday.

DFCU’s sold 2,052 shares from 103,110 collecting sh2m in turnover from a high of sh102.6m.

Stanbic Bank registered improved value from sh46 million from sh29m sold at a weighted average price of sh275 per share.

Again there remained unfulfilled demand for 1.3 million Stanbic shares.

National Insurance Corporation sold shares worth sh7m at an unchanged average price of sh70 after a day of inactivity in the previous comparative session. 100,000 NIC shares were sold although again there was unmet demand for over 1 million NIC shares.

New Vision did not trade on Tuesday. The trading price however rose to an average sh608 per share. The previous session, NVL had picked sh17.4 million in turnover from 29,205 traded shares.

The local share index fell to 362.51 from 363.54 while the all share index also rose to 1.189 from 1,153.

Uganda Clays hovered around the less than sh2 million turnover for a third comparative trading session after the clay maker moved 46,820 shares at an average sh40.

Turnover was sh1.9m.

By DAVID MUGABE: The New Vision Newspaper