RSE Report: BK slips, RSI follows

Tuesday, March 05, 2013

Shareholders of stock belonging to Bank of Kigali are sure to be harboring doubts over proceedings at the Rwanda Stock Exchange, after BK share price again took a tumble.

Where BK stock was the model of consistency last year, the turn of the calendar has seen the Kigali bank’s shares rise and fall seemingly with the wind, much to the consternation of share-holders who had grown accustomed to fairly steady share-prices, and therefore sure returns.

BK shares traded between Rwf 180 and Rwf 183 and closed at Rwf 183, translating into a decline of Rwf 1 compared to last Friday’s closing price.

The RSE Share Index (RSI) followed suit, closing down 0.06 points at 202.20 mainly caused by the falling BK share price.

Total turnover for the day was a paltry Rwf 2,661,100 from 10,000 BK shares and 1,100 BRALIRWA shares traded in 5 deals, paling in comparison to the previous trading session (Friday) which recorded a mammoth total turnover of Rwf 66,776,100 from 29,900 BK shares and 80,800 BRALIRWA shares traded in 15 deals.

The rest of the field at the RSE also registered minimal activity, as BRALIRWA shares traded and closed at Rwf 761, just Rwf 1 the better to last Friday’s closing price. Kenya Commercial Bank (KCB) shares last transacted at Rwf 169 while Kenyan counterpart Nation Media Group (NMG) shares last transacted at Rwf 1,200.

More trading is sure to follow tomorrow as outstanding bids of 134,900 BK shares between Rwf 185-200 were logged, but shareholders are yet to commit, as there were no outstanding offers.

On the BRALIRWA counter, there were outstanding bids of 131,700 shares between Rwf 750 – 770 and outstanding offers of 200,000 shares at Rwf 824.

Tags: Rwanda