Uzbekistan’s stock market recorded positive momentum between January 16 and January 23, with most highly liquid shares on the Tashkent Stock Exchange closing higher and the UCI index rising by 1.01%.
The strongest growth was seen in preferred shares of Ipoteka Bank, which jumped 69.79%. Shares of SQB climbed 28.51%, while ordinary shares of Aloqabank gained 25.40%.
Trading in shares of SQB and Ipoteka Bank was temporarily suspended from January 21 as the exchange reviews the reasons behind the sharp rise. Over 10 trading days on the Main Board, ordinary shares of the two banks surged by 146.28% and 132.38% respectively.
Losses were recorded in shares of Almalyk Mining and Metallurgical Combine (AMMC), down 1.71%, and Business Development Bank, which fell 1.16%. Shares of Uzbekinvest ended the week unchanged.
By number of transactions, Aloqabank led with 1,829 trades, followed by Hamkorbank with 1,771 and UzEx with 1,118. In terms of trading volume, Uzbektelecom ranked first with 2.87 bn soums ($237,000), ahead of UzEx at 1.03 bn ($85,000) and Hamkorbank at 824.24 mln ($68,000).
Overall, 22 highly liquid shares ended the week in positive territory, one closed flat and six declined. Total turnover on the main trading board reached 11.37 bn soums ($940,000).
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