[2008-04-29]  USE Turnover Hits Sh36b
THE Uganda Securities Exchange (USE) posted a 27% growth in activity in the first quarter of the year, mainly driven by increased investor interest.

A USE report for January-March showed that activity at the bourse hit an all-time-high of sh36.4b in turnover in the first quarter from sh28.5b the previous quarter.


The number of deals also rose to 3,979 from 3,319 deals during the period under review.

"March alone realised the highest levels of activity, recording sh18.8b and accounting for 52% of the turnover," the report says.

However, volumes dropped to 67,104,615 shares from 136,423,966 in the previous quarter. The USE's all share index rose to 994.53 at the beginning of January but backtracked to 845.95 at the end of the month. The rate oscillated between 823.65 and 876.18 in February and later hit a record high of 1,011.65 in the first half of March. It then retreated to 987.66 at the close of the quarter.

The all share index was at 1,044.3 by the close of trading on Thursday. The report adds that activity on the Stanbic Bank counter accounted for 30.12% of the total turnover and 68.44% of the volume.

Dfcu, on the other hand, accounted for 28.86% of the turnover and 22.17% of the volumes. British American Tobacco and Bank of Baroda accounted for 11.06% of the turnover and 4.04% of the volume and 17.32% of the turnover and 3.14% of the volume respectively

New Vision and Uganda Clays Limited contributed 10.19% and 2.45% to the turnover and 1.44% and 0.76% to the volumes respectively.

Government bonds recorded a sh173.4b turnover during the quarter under review.

There was no trading recorded on the corporate bonds segment as bond- holders, who are mainly institutional investors, continued to hold onto their investments.


Source: Copyright © 2008 New Vision.