Stock turnover at the Uganda Securities Exchange recorded a 74% growth in the second quarter of this year to Shs5.9bn compared to the previous session as energy and banking dominated trading.
Electricity distributor,
Volume traded per counter
UCL dominated the activity during the quarter, with the counter having 85.4 million shares traded, taking 56.79% of the volume. Stanbic Uganda recorded 25.3% of the volume with 38.1 million shares, while
For bond listings, there were six treasury bonds re-opened in the quarter with a value of Shs1, 350bn which were listed. The current total value of the government bonds listed on the bourse stands at Shs18.16trillion.
However, the Corporate Bond Secondary Market remained inactive throughout the period as investors continued to hold into their investments and receive interest that is paid out semi-annually.
Currently, there are two performing bonds on the market: African Development
Interest and lending rates
This performance during the quarter came out the time liquidity in the money markets was slightly tighter in the second quarter of the year with overall rates averaging 7.1% compared to 7% in the first quarter.
The overnight and 7-day rates averaged 6.9% and 7.4% in the three months to
Notably, money market rates came off in the last month of the second quarter in line with the revision of the Central
This expansionary monetary policy stance aimed at supporting economic recovery following imposition of a second lockdown as Covid-19 cases were on the rise.
In terms of lending rates, the shilling denominated loans increased to 19.8% in
The lending rate as of
Foreign currency denominated lending rates also rose to 6.8% in
A surge in prices of some stocks such as EABL,
However, the local share index decreased greatly from 348.56 to a low of 337.47 in May but recovered in June to close the quarter at 344.76.
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