On the Equity Market | Stock Analysis Monday 11th July 2011 to Friday 15th July 2011
Trading during the week spanning from Monday 11th July 2011 to Friday 15th July 2011 when the market closed, activity was characterized by less demand as compared to the outstanding offers and mainly as only four companies traded.
On Monday as the market opened, three companies including Stanbic Bank (SBU), Bank of Baroda Uganda (BOBU) and Uganda Clays Limited (UCL) traded, yielding a turnover of shs 3.7 m. UCL traded the largest volume of shares, 14,350 at shs 45 per share price.
SBU followed suit trading 10,000 shares at shs 150 per share price. BOBU sold lower volumes as compared to SBU and UCL i.e. 5,291 shares at shs 300 per share. Despite trading the lowest volumes, BOBU yielded the highest turnover of shs 1.5 m.
As the markets went into the second day of trading, the number of companies trading increased from three to four with DFCU Bank joining BOBU, SBU and UCL. Tuesday saw an improvement in the market turnover to shs 89.1 m from shs 7 m. This is all credited to a much improved BOBU which traded 188,945 shares at shs 300 and yielding the highest deal of the day of shs 56.7 m. Stanbic Bank traded second yielding a turnover of shs 29.8 m from traded volumes of 211,570 at an average price of shs 145.
UCL had a slight decline in volumes of shares traded from 14,350 to 12,239 and turnover from shs 645,750 to 563,000.
Wednesday saw a sharp decline in turnover to shs 8.2 m from 89.1 m on Tuesday. DFCU Bank and UCL had a recommendable rise in turnover compared to Tuesday, to shs 3.2 m from shs 2 m for DFCU Bank and from shs 563,000 to shs 1.7 m for UCL. As UCL also traded the largest volumes of 35,000 shares from 12,239 shares traded on Tuesday. BOBU traded lower volumes of 7,500 shares from 188,945 while the traded values also declined to shs 2.2 m from shs 56.7 m at an average shs 290 share price.
BOBU buoyed the market turnover from shs 8.2 m on Wednesday to shs 65.4 m on Thursday. A much improved BOBU sold 205,099 shares, yielding shs 61.5 m in turnover, the biggest deal of the day. As only four companies continued to trade, a total of 265,442 shares were traded.
UCL also had a slight rise in turnover compared to Wednesday to shs 2.7 m from shs 1.7 m, and in shares traded to 53,227 from 35,000 at an average price of shs 53.
DFCU Bank sold lower volumes of 194 shares from 3,250 and the traded value declined from shs 3.2 m to shs 194,970 at a changed shs 1005 share price.
Stanbic Bank moved to shs 999,750 from shs 979,300 in turnover while the share price gained marginally to shs 145 on average from shs 140. A total of 6,922 Stanbic Bank shares were sold.
On the day of closing (Friday) while there was a sharp decline in the turnover from shs 65.4 m to shs 12.2 m, there were still some gains for Stanbic Bank and Uganda Clays.
Stanbic Bank improved traded value on Friday with turnover rising to shs 4.9 m from shs 999,750 at a price of shs 140. The Bank also sold 35,356 shares, also representing a rise in volumes traded.
Turnover on the UCL counter increased to shs 6.6 m from shs 2.7 m after the clay making entity sold 119,349 shares. Its share price moved to shs 555 from shs 53. BOBU performance at closing had declined with a turnover of shs 533,100 from 1,777 shared traded at a share price of shs 300.
Meanwhile trading for DFCU Bank at closing on Friday remained the same as compared to Thursday with the same volumes of shares traded, yielding the same turnover and at the same share price shs 1005.
Throughout the week Stanbic Bank had the highest outstanding offers of shares averaging 854,040 shares, however, they were not marched by demand.
By Kayondo Jimmy Emmanuel