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Focus on Uganda stock market performance
The Uganda Securities Exchange share volume traded in January was 132.8 million yielding a market turnover of 9.4 billion Uganda Shillings with six hundred and forty three deals executed. Joining CNBC Africa to break down the performance is Catherine Namujjuzi, Risk and Compliance Manager at Crested Capital.
Tue, 07 Feb 2017 10:17:16 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Anticipation of financial results from major players drove increased investor activity in January.
- Investors strategically positioned themselves ahead of the results season, leading to heightened demand for key counters like Stanbic Bank, UMEME, and Ganet Plc.
- Sandvik Bank's strategic focus on leveraging opportunities in the oil and gas sector and digital platforms positions it as a strong competitor against other banks.
The Uganda Securities Exchange saw a significant increase in share volume traded in January, reaching 132.8 million and yielding a market turnover of 9.8 billion Uganda shillings. With 643 deals executed, the market showed resilience and active investor participation. To analyze the performance and drivers behind these movements, Catherine Namujjuzi, Risk and Compliance Manager at Crested Capital, joined CNBC Africa for an exclusive interview. Namujjuzi highlighted the key factors influencing the market activity in January, including the anticipation of financial results from major players such as DFCU, Stanbic Bank, Bank of Uganda, British American Tobacco, and UMEME. Investors strategically positioned themselves ahead of the results season, leading to increased demand for key counters. Standout performers like Stanbic Bank, UMEME, and Ganet Plc gained traction as investors expressed optimism based on past performance and market positioning. Sandvik Bank emerged as a particularly strong contender due to its strategic focus on leveraging opportunities in the oil and gas sector, as well as digital platforms. With a strong investment banking arm and the ability to facilitate large transactions, Sandvik Bank is poised to compete effectively against both local and foreign banks in the market.
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