Shares tumble on stock market

The market slipped in yesterday’s trading compared to Monday, with the Rwanda Stock Exchange (RSE) recording a dip in turnover and share price. After the closing bell yesterday, both Bank of Kigali (BK) and Bralirwa shares had traded low compared to Monday’s trading. BK shares closed at Rwf133 meaning a decline of Rwf1 as Bralirwa shares traded Rwf16 below the previous trading, closing at Rwf300. In other developments, KCB and NMG shares last transacted at Rwf175 and Rwf1,200 respectively. In yesterday’s trading session, both BK and Bralirwa counters recorded a lower turnover compared to the previous trading session. “Today’s trading session recorded a turnover of Rwf2,886,400 from 4,800 BK shares and 7,500 Bralirwa shares traded in 6 deals compared to yesterday’s trading session which recorded a turnover of 3,393,400 from 26,100 BK shares traded in 2 deals,” a daily RSE market report stated. The report further indicated that at the end of formal trading hours, on BK counter, there was an outstanding bid of 299,000 shares at Rwf131 and outstanding offers of 572,900 shares between Rwf134 and Rwf140. Conversely, A the Bralirwa counter, there were outstanding bids of 53,000 shares selling at Rwf297 and outstanding offers of 9,500 shares at Rwf305 and 10,000 shares at Rwf310. Ends

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Shares tumble on stock market