Turnover in this month is rising mainly due to repo transactions. Thus, month-to-date turnover is US$4.4 million, in contrast with total November turnover of US$4.3 million.

Transaction amount of repo deal with Galla Bank shares comprised more than 1 billion soums (app. US$741,000), which equalled to 65% of the weekly turnover. As the results, this stock has become most active and most traded during the week. Worth noting that market participants started to more frequently use financing through repo transactions. Month-to-date share of repo is 59%, contrary to 7% of repo market in December 2007.

Banking shares took 81% of the total turnover due to trading with 3 banking stocks within these 4 days. Besides 2 aforementioned stocks, Hamkorbank shares were traded (US$836 was deals amount). Large acquisitions of food production companies (Taminot markazi (Provision center) - 12.58% were purchased for US$4,660, and 1.4% of Fergana nasilli parranda (Fergana poultry) for the same amount and others) did not let this sector occupy more than 2% of the market turnover.

On Friday investor also bought only one common share of Uzbek kumir (Uzbek coal). As the result, energy sector was on the last standing in this rating.

Top gainers

Only one company rose out of 23 which participated in the trading. Ordinary stocks of Autotransport company Shohruh increased more than 14 times. Preferred shares also increased slightly. The increase was observed along with acquisition of more than 13% stake in the company.

Top losers

Last week can be called “the week of drops”. 22 companies dropped 20-25% on average, while almost half of the companies decreased by less than 10%. Top loser Taminot markazi plummeted by 90% bringing its capitalization to miserable US$36,800. Bukhoro ekstrakt yog (Bukhara oil extraction factory) plunged by almost 70%, investment fund Oltin invest dropped by one third, while recent “stars” Kvarts and Toshneftgazqurilish (Tashkent oil and gas construction) fell by a quarter.

Probably, investors will be waiting for 2008 results of the companies, which then will bring to some rise of market caps.

Most active

Most active, as it was mentioned before, were banks. 3 bank stocks were in top-5 rating. First standing is occupied by Galla Bank shares, thanks to repo deal with more than 4 million stocks.

Most traded

Again banks are leaders. Autotransportation company Shohruh, with trade amount almost US$200,000 is the third. Later trading with stocks may increase, since there was a public announcement by Uzagrotrans on intentions of the latter to acquire more than 6% stake in the company, this bringing its share in ATC Shohruh to 34.3%.

Essential Investments analysts believe that decreases on the market will continue until the end of the year. One of the main reasons is the global financial crisis which almost eliminated foreign investors from Uzbekistan stock market.

Source: Essential Investments (www.ei.uz)