By David Mugabe The stock market concluded deals worth over sh245 billion in 2013, a massive improvement from the previous year, a report indicates. The Uganda Securities Exchange report showed a marked rise from the sh26b obtained in 2012. 2013 was mainly boosted by corporate action including the opening trading sessions after Umeme's initial public offer, DFCU share sell as well as major deals on the Stanbic counter. There were 5205 deals with a total of sh245 billion deals after a total of over 2.4 billion shares were sold. The biggest deal was in May 2013 when turnover peaked sh139b after 524m shares were sold. Stanbic bank had 2339 deals overall- the most among all the 12 listed companies at the exchange followed by Bank of Baroda . But some companies like NMG and Equity Bank had single deals in the entire year. In the last quarter of 2013 (October –December), the local share Index rose steadily during the period with many local counters experiencing a rally in prices, according to a quarterly report from the stock market. "The local index started the session at 239.04, moved to 259.85, dipped at 254.45 but closed at 265.11 an 11% gain during the period," says the report. The USE is still pushing to get a new chief executive since the exit of Joseph Kitamirike in 2013. COPYRIGHT
Most Popular Stories
- Major Phone Makers Sign Anti-Phone-Theft Pledge
- India Recognizes Transgender People as 'Third Gender'
- 'Beige Book' Federal Reserve Survey, April 2014: Full Text
- Brands Get Caught in Bitter-Tweet Traps
- Yellen Remarks, Market Data Give Stocks a Boost
- Michael Bloomberg Takes Aim at the NRA
- U.S. Job Market Still Needs Fed Stimulus: Yellen
- Dems in Energy States Back Away From Obama
- Is This Job Too Good to Be True?
- Man Arrested After Driving Stolen Car to Court Hearing