Bourse sheds 95% value in weekly total turnover

The Rwanda Stock Exchange (RSE) opened the first week of 2017 with a 95 per cent drop in value, figures for the week ended January 6 indicate.

According to the RSE weekly report, the bourse recorded Rwf3.7 million in total turnover, a 95.04 per cent drop in value compared to Rwf75.2 million realised the previous week. This represents a Rwf71.4 million decline in earnings. During the week only 26,700 shares were traded, down from 833,900 shares that changed hands over the week ended December 30.

However, experts are optimistic business at the bourse will slowly pick up in coming months. The RSE market capitalisation was unchanged at over Rwf2.748 trillion on Friday.

On the bond market, Rwf40 million worth of bonds was traded, which was also a big drop from Rwf135 million worth of bonds transacted the previous week.

Meanwhile, the local exchange was quiet on Friday, with no shares or bonds changing hands. In addition, the Rwanda Share Index and All Share Index remained stable, closing at 119.91 and 127.26 points, respectively. The equities counters closed as follows, Bank of Kigali was at Rwf228; Bralirwa closed at Rwf140; Crystal Telecom at Rwf90, while Equity Bank closed at Rwf334; NMG at Rwf1,200; and KCB was at Rwf330; and Uchumi Supermarkets closed at Rwf104.