Low business at RSE

There was minimal business at the stock market yesterday with only the Bank of Kigali counter active. The bank sold 34,500 shares to realise Rwf6.6m turnover. The previous Monday, no shares exchanged hands.

There was minimal business at the stock market yesterday with only the Bank of Kigali counter active. The bank sold 34,500 shares to realise Rwf6.6m turnover. The previous Monday, no shares exchanged hands.

The bourse was a bit more active on Friday, trading 51,400 Bank of Kigali and 2,000 Bralirwa shares valued at Rwf11.5m traded.

The low business could have affected the Rwanda Stock Exchange Share Index (RSI) as it dropped 3.62 points to close at 213.77 points yesterday compared to 217.39 points the previous Monday.

According to a statement from the RSE, the drop was mainly caused by the falling Bank of Kigali share price, which shed Rwf3 to close at Rwf192 yesterday compared to Friday’s close of Rwf195.

All the other counters; Bralirwa, Kenya Commercial Bank, Nation Media Group and Uchumi Supermarket were quiet.

At the end of formal trading hours, there were outstanding offers of 644,300 Bank of Kigali shares at between Rwf195 and Rwf210 and outstanding bids of 88,500 shares at between Rwf192 and Rwf193.

On Bralirwa counter, there were outstanding offers of 528,700 shares between Rwf809 and Rwf890 and no buyers.

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