{"id":52458,"date":"2023-07-13T11:18:47","date_gmt":"2023-07-13T11:18:47","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use"},"modified":"2023-07-13T12:39:29","modified_gmt":"2023-07-13T12:39:29","slug":"umeme-stanbic-dominate-trading-at-use","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use","title":{"rendered":"Umeme, Stanbic dominate trading at USE"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Umeme contributed three-quarters of the Uganda Securities Exchange (USE)\u2019s market turnover in May, boosted by high dividend issuances and foreign investments.<\/p>\n

The power utility company dominated monthly activity, accounting for 67.91 percent of the total turnover on the bourse.<\/p>\n

Traders leveraged the slowed inflation at a rate of 6.2 percent in May, down from an earlier elevated 8 percent in April, which had eaten into purchasing power.<\/p>\n

\u201cThis was attributed to drops recorded in both food crops and energy, fuel and utilities prices, which carry the biggest weights on the consumer price index,\u201d a report by USE reads in part.<\/p>\n

The annual inflation for food crops and related items fell from 25.3 percent in April to 15.7 percent in May.<\/p>\n

Stanbic Bank followed Umeme, contributing 21.56 percent of market turnover, coming on the back of a dividend declaration of Sh87b.<\/p>\n

USE also attributed the increased activity on interbank money movements, which was slightly lower, averaging at 10.46 percent in May, down from 11.17 percent in April.<\/p>\n

This saw the total number of shares traded in May increase to 165.51 million, resulting in a market turnover of Shs15.54b, a 141.03 percent increase from the Shs6.45b recorded in the same period last year.<\/p>\n

\u201cThis turnover represents a daily average of Shs706m. Volumes traded increased to approximately 165.5 million shares compared to 24.8 million shares traded in April,\u201d USE said.<\/p>\n

Mr Paul Bwiso, the USE chief executive officer, said: \u201cIncreased turnover in May can be mainly attributable to seasonal factors including dividend cycles, end of government financial year and seasonal allocation by fund managers.\u201d<\/p>\n

MTN, which contributed 10.43 percent of May\u2019s turnover, was the third-best investment asset followed by National Insurance Corporation, Bank of Baroda and Cipla Quality Chemicals.<\/p>\n

Other counters that posted good performance included Dfcu, New Vision Printing and Publishing Limited and Uganda Clays. Each contributed about 0.08 percent.<\/p>\n

Mr Bwiso noted that during the period ended December 2022, a number of listed companies, including Bank of Baroda, MTN, Stanbic, Umeme, Dfcu and National Insurance Corporation declared dividends, resulting in increased demand on their counters.<\/p>\n

\u201cInvestors take positions in this period to best benefit from declared dividends and not miss out on book closure dates,\u201d he said.<\/p>\n

During May Bank of Baroda dominated the volume of shares traded per counter, contributing 31.09 percent of traded shares.<\/p>\n

However, Umeme dominated on the other hand dominated turnover performance per counter, accounting to 39.33 percent of the total turnover.<\/p>\n

Mr Bwiso also indicated that fixed-income securities\u2019 interest rates declined during the period, yet demand for stocks rose, thus the increased activity.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Umeme contributed three-quarters of the Uganda Securities Exchange (USE)\u2019s market turnover in May, boosted by high dividend issuances and foreign investments. The power utility company dominated monthly activity, accounting for 67.91 percent of the total turnover on the bourse. Traders leveraged the slowed inflation at a rate of 6.2 percent in May, […]<\/p>\n","protected":false},"author":84,"featured_media":52457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-52458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nUmeme, Stanbic dominate trading at USE - Uganda<\/title>\n<meta name=\"description\" content=\"Umeme contributed three-quarters of the Uganda Securities Exchange (USE)\u2019s market turnover in May, boosted by high divid ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Umeme, Stanbic dominate trading at USE\" \/>\n<meta property=\"og:description\" content=\"Umeme contributed three-quarters of the Uganda Securities Exchange (USE)\u2019s market turnover in May, boosted by high divid ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-13T11:18:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-13T12:39:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/07\/sm_1689235597.836034.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Umeme, Stanbic dominate trading at USE\",\"datePublished\":\"2023-07-13T11:18:47+00:00\",\"dateModified\":\"2023-07-13T12:39:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use\"},\"wordCount\":434,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/07\/sm_1689235597.836034.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/umeme-stanbic-dominate-trading-at-use\",\"name\":\"Umeme, Stanbic dominate trading at USE - 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