Massive deceleration at RSE

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The statistics of the major movers at the Rwanda Stock Exchange did not mirror those of the first quarter earnings posted this week by BRALIRWA and Bank of Kigali (BK).

 

Both companies published better-than-expected growth and net profits, BRALIRWA posting a net profit growth of 45.3% and an increase in revenue performance of 22.3% whereas Bank of Kigali reported a net income of Rwf 6 billion ( USD 9.8 million) for the first half in 2012, marking an increase of 54.5%.

 

However, both continued a lackluster week at the RSE on Friday. A paltry total recorded-turnover of Rwf 383,200 from 2,900 BK shares traded in 4 deals, compared to the previous trading session which recorded a turnover of Rwf 94,030,900 from 121,000 BK shares and 206,800 BRALIRWA shares traded in ten deals, speaks volumes about the up-and-down nature of the RSE.

 

BK shares traded between Rwf 132 and Rwf 136 and closed at Rwf 136, registering an increase of Rwf 6 while BRALIRWA share price remained unchanged at Rwf 391. Kenya Commerical Bank (KCB) and Nation Media Group (NMG) shares last transacted at Rwf 140 and Rwf 1,200 respectively.

 

Outstanding bids of 3,300,000 BK shares at Rwf 129 and an outstanding offer of 99,900 shares at Rwf 136. On BRALIRWA counter, there were outstanding bids of 15,500 shares at Rwf 370 and 20,000 shares at Rwf 375 and no outstanding offers.

 

 

Stock Previous Price Current Price (Rwf)
BRALIRWA 370 391
Bank of Kigali 130 136
Kenya Commercial Bank (KCB) 140 140
Nation Media Group (NMG) 1,200 1,200

 

 

 

 

About the author

Ashley Stuart is the Editor (English) for RwandaEye. She has worked as the lead project manager for Dunkirk Business Consultancy and is an authority on Foreign Markets. She is the major contributor of English articles for RwandaEye.

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