The week on the Republican Stock Exchange "Tashkent" ended with confident growth of most liquid securities. The national telecom operator led in dynamics, gaining almost 40% over five trading days.
Who grew the most
The dynamics of the most actively traded stocks for the week look like this:
- UZTL (Uzbektelecom) — +39.7%;
- UZNF (National Investment Fund) — +13.33%;
- HMKB (Hamkorbank) — +9.87%;
- SQBN (Uzpromstroybank) — +7.11%;
- KVTS (Quartz) — +6.91%;
- UZMK (Uzmetkombinat) — +4.92%.
The only notable security in the red was CBSK (Chilonzor buyum savdo) — the management company of the Hippodrome market lost 2.52% for the week and 1.9% for the month. However, over the year the security still shows growth of more than 41%.
Dividend factor in telecom
The sharp movement in UZTL coincided with the approaching dividend payment: on August 27 the company will transfer 372.57 som per share to shareholders, corresponding to a dividend yield of about 32%. The register was closed on June 29.
For comparison, a year earlier the payment was 76.3 som, and in 2024 — 46.55 som. Such growth in payments is explained by the requirement to direct at least half of net profit to dividends: 30% of the operator's shares belong to the National Investment Fund.
The security remains the most volatile in the top tier: its 52-week range is from 2,880 to 14,400 som.
Banking sector drives market up
The financial segment showed synchronized growth. Ordinary shares of Hamkorbank gained 43.7% over the month and 223.33% over the year. Uzpromstroybank shares rose 26% for the month and nearly 300% for the year, trading near the upper bound of the annual range.
Interest in bank shares is fueled by privatization expectations and general market capital revival: during the week, new participants entered the regulatory sandbox, planning to issue foreign currency bonds.
Industry: Quartz maintains three-digit growth
Shares of the glass factory Quartz gained 28.39% over the month and 259.68% over the year. On August 24 the company will pay a dividend of 6.95 som per share — a symbolic amount compared to payments in 2017-2018, when shareholders received over 900 som per share.
The metallurgical plant UZMK moved more calmly than others: +4.92% for the week with +61.09% over the year. Free circulation of ordinary shares is limited for the enterprise, with main liquidity concentrated in preferred shares.
What investors should consider
A key feature of the local market is low liquidity of individual issues: some issuers have zero daily trading volume, and quotes may not change for days. Therefore, weekly dynamics for individual securities do not always reflect actual demand — comparing stock prices makes sense together with transaction volume and average monthly turnover.
Data from RFB "Tashkent", delays possible. This material is for information purposes only and is not an investment recommendation.