An‘unexpected’ supply of Bank of Kigali and Bralirwa shares led to a sharp fall of the Rwanda Stock Exchange Share Index (RSI) yesterday, a broker has said. The RSI dropped by 9.93 points during the week, from 236.51 points on Monday last week, to 226.58 points yesterday. Elias Mugabe, a broker with CDH Capital, attributed the decline to 11,800 Bank of Kigali and 4,500 Bralirwa shares that were ‘all of a sudden’ put up for sale by investors. “Today (yesterday), there were investors who wanted to sell their shares at prices which were lower than the market rates,” said Mugabe. The development led Bralirwa to shed Rwf25, and Bank of Kigali Rwf5 compared to Friday’s closing prices. The Bank of Kigali counter was at Rwf285, while Bralirwa shares were sold at Rwf365 compared to Rwf299 and Rwf380 on Friday, respectively. The day’s total turnover was Rwf5 million, which was also lower than Rwf9.6 million turnover recorded the previous Monday. Mugabe, however, projected the counters would recover lost ground as the month ends.
