Shares of Rwanda’s leading brewery, Bralirwa, rose by 1.7 per cent during yesterday’s trading at the Rwanda Stock Exchange (RSE).
The brewery shares traded between Rwf280 and Rwf285 to close at Rwf285.The shares continued to register a positive trend since the beginning of the week.
The closing bell rang when the counter had recorded Rwf5 higher than Tuesday’s closing price.
Conversely, after a sharp rise during Monday trading, Bank of Kigali (BK) shares slid to Rwf135 yesterday compared to Rwf136 and Rwf137during Tuesday and Monday’s trading respectively.
Market observers say it will take time for the country’s largest lender by assets to gain momentum.
A stockbroker on the RSE explained that the lender has not even been on the market for a month, noting that time will come when BK shares will gain.
“Buyers and sellers always compare Bralirwa and BK shares prices. They shouldn’t because these are two different companies that listed at different times,” the dealers said.
RSE said in a daily report that the total market turnover was Rwf363,027,900 recorded from 1,256,400 Bralirwa shares and 51,700 BK shares traded in 18 deals.
KCB shares last transacted at Rwf175 while NMG shares last transacted at Rwf1,200, it added.
At the end of formal business hours, there were 699,900 BK shares on offer between Rwf135 with no bids. On the Bralirwa counter, there were outstanding bids of 95,700 shares between Rwf275 and Rwf282 and one offer of 49,900 at Rwf285.