RSE Report: BK share price takes huge leap

The value of Bank of Kigali (BK) shares at the Rwanda Stock Exchange took a monumental leap on Tuesday, closing Rwf 10 higher to the tune of Rwf 175, after spending most of the day trading between Rwf 165 and Rwf 175.

According to RSE officials, this price surge was influenced by the normal market-impacting factors such as supply and demand, and strong quarterly performance by the bank.

The RSE share index (RSI) also went up for a second straight day, increasing by 1.82 points to close at 186.12, mainly precipitated by the rising BK share price.

The total turnover for the day was Rwf 26,089,200 from 17,000 BK shares and 33,600 BRALIRWA shares traded in eight deals. Monday’s trading session had yielded a cumulative turnover of Rwf 16,131,400 from 23,400 BRALIRWA shares traded in seven deals.

BRALIRWA took an unfamiliar position of trading downwards instead of upwards as had become customary, as its share price oscillated between Rwf 687 and Rwf 700 and closed at Rwf 692, translating into a decline of Rwf 4 compared to Monday’s closing price.

Kenya Commercial Bank (KCB) and Nation Media Group (NMG) remained dormant and on unchanged share values, at Rwf 169 and Rwf 1,200 respectively.

On the bids and offers end, there were outstanding bids of 202,000 BK shares between Rwf 166 and Rwf 177 and no outstanding offers. On the BRALIRWA counter, there were outstanding bids of 40,700 shares between Rwf 687 and Rwf 693 and once again, no outstanding offers.