BK spurs RSE weekly turnover

Rwanda Stock Exchange recorded a 12.24 per cent increase in weekly turnover, with Bank of Kigali’s stocks the most sought after. 

Rwanda Stock Exchange recorded a 12.24 per cent increase in weekly turnover, with Bank of Kigali’s stocks the most sought after. 

The total turnover for the week topped Rwf 404.02 million from 376,000 Bank of Kigali shares and 320,700 Bralirwa shares that traded in 45 deals up from the previous week’s total turnover of Rwf 360m from 500,500 Bank of Kigali shares and 222,900 Bralirwa shares traded in 34 deals. 

Bank of Kigali share price rallied to a high of Rwf 345 and low of Rwf 330 on Friday, before closing at Rwf 345, increasing by Rwf 18 from the closing price last Monday. 

Market analysts say this comes after the bank, which posted a 25.4 per cent increase in net income to Rwf14.8bn for 2013 from Rwf11.8bn in the year ended December 2012, said it would pay out Rwf11.1 per share in dividends following a solid performance. 

This led to the Rwanda Stock Exchange share index to go up by 5.24 points during the week to close at 267.25 points on Friday from 262.01 points the previous Friday. 

Other counters; Bralirwa, KCB, Nation Media Group and Uchumi Supermarket share prices had not changed as of Friday and closed at Rwf 875, Rwf 185, Rwf 1,200 and Rwf 175 respectively.

 

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