Trading week on the Tashkent Republican Stock Exchange passed in consolidation mode. After the sharp growth in the first half of August, most liquid securities remained near achieved levels — there were no sharp movements in the top tier.

Who moved during the week

  • SQBN (Uzpromstroibank) — +6.0%;
  • UZTL (Uzbektelecom) — +0.1%;
  • UZNF (National Investment Fund) — unchanged.

The situation with the telecom operator is telling: with a weekly result near zero, the security maintains +116.72% for the month and +117.3% for the year. Essentially all annual growth occurred in one month, after which the price entered a sideways trend.

Banking sector remains the driver

The best dynamics were shown by Uzpromstroibank: +33.35% for the month and +309.31% for the year. The security trades near the upper boundary of the 52-week range (8.99–49.99 som) at a price of 41.34 som.

On the last trading day, preferred shares of Aloka Bank (ALKBP) showed notable movement — plus 19.44% with a turnover of nearly 53 million som. Common shares of the same bank remained practically flat — typical divergence for low-liquidity preferred issues.

Hamkorbank closed the day down 1.1% at a price of 99 som.

Where the money is concentrated

Daily turnover in the catalog was about 1.8 billion som. Distribution by securities:

  • UZNF — 831.07 million som;
  • UZTL — 243.2 million;
  • HMKB — 219.52 million;
  • URTS — 66.02 million;
  • ALKBP — 52.89 million;
  • SQBN — 51.61 million som.

Almost half of the turnover is provided by securities of the National Investment Fund — the market's largest issuer with a capitalization of 25.27 trillion som and nearly 48 billion shares in circulation. At a price of 6.6 som and a 52-week range of 5–7.5 som, the security remains the most stable in the top tier: monthly growth of +21.1% with zero weekly dynamics.

Dividend factor: important nuance

On August 27, Uzbektelecom pays a dividend of 372.57 som per share — a record for the company. For comparison, a year ago the payment was 76.3 som, and in 2024 it was 46.55 som.

Key point for investors: the registry cutoff date is June 29, which has long passed. Buying the security now does not give rights to the upcoming payment, and high dividend yield shown in the card is calculated based on the price at the registry cutoff date, not the current quote.

This is a general rule when dealing with dividend histories: compare the payment size with the price on the cutoff date, and before buying, verify that the registry has not closed.

What to consider

Settlement of exchange transactions occurs in T+2 mode — ownership transfers within two business days. This is crucial when planning purchases for dividend cutoff.

And most important for the local market: with daily turnover of several hundred million som per security, a single large order can move the price by tens of percent. It makes sense to evaluate stock prices together with trading volume, not in isolation.

Data from Tashkent Republican Stock Exchange, possible delays. This material is informational in nature and is not an investment recommendation.