Total trade turnover of the week made up US$25,015. Average daily turnover of the previous week made more than US$50,000.

Lack of investor activity was evidenced also by the fact that there were no large acquisitions, except purchasing of 13.16% of Ipak Yuli Avtotrans and 1.23% of Temir yul transport boshkarmasi (Railway transportation management).

Perhaps, world financial crisis, which is observed now, negatively affected the opinion of investors and reduced their confidence in stock market. This was the reason of quote falls on almost all securities traded during the week. The worst day was Thursday - all traded securities were 25% down.

Other trading days were also not fruitful. During all five days quotations went down at UzSE. Share of banking sector took 20% of total trade turnover. The share growth of banking sector can be explained by reduction of deal volumes on securities of other sectors.

As usual non-residents pay a bit higher than market price of a stock. In particular, while quotations fell on all stocks during the week, foreign investors purchased 1,216 common stocks (or 0.03% of authorized capital) of Uzselhozmashlizing (Uzbek agricultural machine leasing) at the price of US$2 per stock at the secondary market. This is 22.75% higher than the previous trading session on these securities. During the five days only two out of 22 issuers went up.

Top losers
Half of 20 issuers whose stocks were traded during this week had a price fall exceeding 20%. The largest fall was registered on common stocks of Kashkadaryo parmalash ishlari - 76.34%. It should be mentioned that these securities fell in price almost every day by 25% during the last week.

According to the opinion of Essential Investments’ analysts the price fall could have exceeded 25%, if there was not a trading rule of UzSE, which limits daily price fluctuations to 25%. Also the analysts think that the fall will continue until it approaches the level of a face value of the stock. During the last trading day common stocks of Kashkadaryo parmalash ishlari were traded at the price of US$3.69, which exceeds their face value by 5.03 times.

Most active
Trade turnover had fallen and the structure of leaders of most active changed. First and fourth places were occupied by representatives of banking sector: Aloqa Bank and Uzpromstroybank (Uzbek industrial construction bank).

Oil and gas companies and construction material producers didn’t keep their stocks trading volumes. Enterprises of oil and gas sector in the rating of most active occupied last places along with construction material and food producers.

Most traded
Analyzing the rating of most traded issuers it should be mentioned that Ipak Yuli Avtotrans occupied the leading position due to purchase of 13% of its stocks by investors. Investors acquired securities of Kuvasaycement at the amount of US$4,820. The capitalization of the enterprise according to the results of the week went down to US$5.94 million. These deals made about 25% of total trade turnover of the week.

On Friday total trade turnover made US$589, this was the lowest daily trade turnover for the last several months.

Source: Essential Investments (www.ei.uz)