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Bralirwa, Bank of Kigali results boost trading activity at RSE

Friday September 07 2012
rse

The Rwanda Stock Exchange registered a positive trend riding on the back of encouraging half year results of two major listed companies - Bralirwa and Bank of Kigali. Photo/File

The Rwanda Stock Exchange, recorded increased trading transactions last week compared with the previous week.

The bourse registered a positive trend riding on the back of encouraging half year results of two major listed companies.

While on many occasions the turnover and number of deals are depressed due to buyers shying away from the market, it was a different story last week, thanks to results released by Bralirwa and Bank of Kigali.

On August 31, for instance, share prices at the RSE rose with the active counters being those of Bank of Kigali and Bralirwa, after the two companies announced positive half year results.

Bralirwa posted a net profit growth of 45.3 per cent to Rwf7.9 billion ($12.8m) and an increase in revenue performance of 22.3 per cent whereas Bank of Kigali reported a net income of Rwf6 billion ($9.8m) for the first half in 2012, an increase of 54.5 per cent.

“The fluctuation is a normal trend driven by the market forces but the general performance on the bourse is positive,” said Celeste Rwabukumba, co-ordinator of the Rwanda Stock Exchange.

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On the last day of July, the trading session recorded a turnover of Rwf383,200 ($623.2) from 2,900 Bank of Kigali shares traded in four deals compared with August 30, where the trading session recorded a turnover of Rwf94,030,900 ($155,371) from 121,000 Bank of Kigali shares and 206,800 Bralirwa shares traded in ten deals.

On August 31, Bank of Kigali shares also traded between Rwf132 ($0.21) and Rwf136 ($0.22) and closed at Rwf136, registering an increase of Rwf6 from Thursday’s closing price. Bralirwa remained unchanged from Thursday’s closing price of Rwf391 ($0.64).

Kenya Commercial Bank (KCB) and Nation Media Group (NMG) shares last transacted at Rwf140 ($0.23) and Rwf1,200 ($1.95) respectively.

On September 3, only the Bank of Kigali counter recorded a transaction with the trading session recording a turnover of Rwf104,000 ($169.15) from 800 shares traded in one deal compared with August 31, where the trading session recorded a turnover of Rwf383,200 ($623.24) from 2,900 Bank of Kigali shares traded in four deals.

Bank of Kigali shares traded and closed at Rwf130 ($0.21), translating into a decline of Rwf6 during the same period while Bralirwa remained unchanged from August 31, where the closing price was Rwf391.

At the end of the formal trading hours, there were outstanding bids of 1,700,000 Bank of Kigali shares at Rwf129 ($0.21) and an outstanding offer of 100,000 shares at Rwf136 ($0.22).

On the Bralirwa counter, there were outstanding bids of 15,500 shares at Rwf370 ($0.6) and no outstanding offers.

On September 5, the market went down as the trading session recorded a total turnover of Rwf39,251,700 ($63,839) from 8,500 Bank of Kigali and 101,700 Bralirwa shares traded in four deals compared to the day before, where the trading session recorded a turnover of Rwf48,021,200 ($78,103) from 162,500 Bank of Kigali and 71,300 Bralirwa shares traded in one deal.

On the same day, Bank of Kigali shares traded at Rwf130 ($0.21) and Rwf131 ($0.21) and closed at Rwf131, unchanged from the previous day’s closing price.

Bralirwa shares traded at Rwf375 ($0.61) and Rwf376 ($0.61) to close at Rwf376, translating into a decline of Rwf9 compared with the closing price of the day before.

At the end of formal trading hours, there were outstanding bids of 1,703,200 Bank of Kigali shares at Rwf130 ($0.21) and outstanding offers of 272,000 shares between Rwf132 ($0.21) and Rwf136 ($0.22).

On the Bralirwa counter, there were outstanding bids of 105,700 shares between Rwf370 ($0.6) and Rwf376 ($0.61) and an outstanding offer of 20,000 shares at Rwf392 ($0.64), there was also an outstanding offer of 5,000 KCB shares at Rwf154 ($0.25).