Stanbic Bank Uganda bounces back to Top the USE

Thursday, 11th August, 2011

STANBIC Bank has bounced back to its dominant market position, picking sh309m in turnover on Tuesday from sh2.1m the previous week. This represented 94% of the day’s total traded value.

Supply on the SBU counter remained at 784,892 shares.

“Outstanding supply on the counter is higher than outstanding demand,” read a market report form African Alliance.

Stanbic’s traded value had slumped in the last few weeks, but the bank opened the week with over sh900m turnover.

There were 2,132,993 Stanbic shares traded, from 15,000 of the past session. The bank closed at an average price sh145 per share.

Total market turnover, however, fell to sh327m from sh934.5m. Overall traded volumes also fell 2.3 million from 3.2 million.

Bank of Baroda posted sh11.6m from 40,000 shares at an average price of sh290 per share.

Uganda Clays turnover also slowed to sh6.9m from sh11m, while traded volumes fell to 127,070 from 221,029 shares at an average price of sh55.

dfcu Bank volumes fell to 153 shares from 2,700 shares while turnover dropped to sh153,765 from sh2.7m last week. BATU did not trade on Tuesday.

The All Share Index dropped to 1,009.03 from 1,024.32.

while the locally quoted share index rose to 220.215.97 from 219.05.

By David Mugabe: The New Vision Newspaper