Umeme, Stanbic dominate USE activity in first 2022 quarter
What you need to know:
- 65.43 percent Dominated: At least 65.43 percent of the total turnover was contributed by Umeme and Stanbic in the 2022 first quarter.
- The current total value of government bonds stands at Shs22.7 trillion.
Umeme and Stanbic dominating trading at the Uganda Securities Exchange (USE) in the first quarter of 2022, contributing a combined 65.43 percent to total turnover.
Speaking in an interview at the weekend, Mr Andrew Mwima, the USE trade manager, told Daily Monitor that the exchange registered a Shs7.3b turnover in the first quarter of 2022, which was 121 percent higher than the Shs3.3b recorded in same period in 2021.
“Quarterly turnover performance per counter turnover was realised on 11 counters,” he said, noting that Umeme, which contributed Shs2.5b of the total turnover, was the best performer, accounting for 34.44 percent.
Umeme was flowed by Stanbic, accounting for 30.99 percent, while MTN and Uganda Clays, accounted for 27.23 percent and 5.5 percent, respectively.
Bank of Baroda and National Insurance Corporation accounted for 1.46 percent and 0.12 percent, respectively.
“The rest of the counters represented by New Vision, Batu, Cipla, dfcu and Centum had a combined turnover of Shs18.9m,” Mr Mwima said, noting that in terms of traded volumes Stanbic dominated activity, trading 82 million shares, which represented 64.36 percent of the total volume.
Uganda Clays traded 17 million shares, which represented 13.84 percent while Umeme and MTN traded 13 million and 11 million, which was a percentage contribution of 10.84 per cent and 8.69 percent, respectively.
National Insurance Corporation and Bank of Baroda traded 1.6 million and 1.1 million shares, accounting for 1.27 per cent and 0.93 per cent of traded volume, respectively.
New Vision, Cipla, dfcu, Centum and Batu recorded marginal contributions.
During the period, the All Share Index, which measure how well the equity markets are performing, opened at 1420.69, before decreasing steadily to 1337.09 in February to close the quarter at 1316.41 - a 7.34 percent decline.
Mr Mwima said the decline was mainly due to a 50 percent drop in the Batu share price.
In the fixed income segments, bond listings, USE data shows, there were six Treasury Bonds re-opened in quarter one with a value of Shs1.5 trillion.
The current total value of government bonds stands at Shs22.7 trillion, while Mr Mwima indicated, the corporate bonds segment remained inactive throughout the period, pointing to investors continued hold on their investments to receive interest payment.