BK shares remain stable

Bank of Kigali (BK) shares remained stable in Friday’s trading session with the lender’s share price closing at Rwf127 for the second week running.
Celestin Rwabukumba, the Operations Manager of Capital Market Authority (CMA).
Celestin Rwabukumba, the Operations Manager of Capital Market Authority (CMA).

Bank of Kigali (BK) shares remained stable in Friday’s trading session with the lender’s share price closing at Rwf127 for the second week running.

According to the Rwanda Stock Exchange (RSE) daily report that concluded this year’s trading session, the market recorded a turnover of Rwf 29,157,800 from 88,500 Bralirwa shares which traded in 10 deals between Rwf329 and Rwf333.

“The Bank of Kigali counter did not record any transactions and the shares remained unchanged at Rwf127,” the report said.

Explaining why BK’s share prices has been constant for the last two weeks, Capital Market Authority’s (CMA), Operations Manager, Celestin Rwabukumba, said it was normal market trend which is pushed by demand and supply.

“It is also caused by people’s perception; they might still be having the same perception they had towards the company a week ago,” Rwabukumba explained.

Noting that it should not cause any alarm to investors, as it is also pushed by the festive season and investors would want to be more active in the coming year.

At the closing bell,  the leading brewer, Bralirwa’s shares had gained Rwf4 to close the year at Rwf333.

On the other hand, Kenya Commercial Bank and Nation Media Group, shares last transacted at Rwf 175 and Rwf 1,200 respectively.

At the end of formal trading hours, there were outstanding offers of 529,600 BK shares between Rwf127 and Rwf135 and no bids.

There were also outstanding bids of 150,900 Bralirwa shares between Rwf329 and Rwf333 and no sellers.

saul.butera@newtimes.co.rw

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