BVRM stocks start the new week on bullish note
1 min Read September 26, 2023 at 11:02 AM UTC
- After a significant decline recorded last week, the Bourse Régionale des Valeurs Mobilières SA (BRVM) market is showing positive signs at the start of the new week.
- The major BRVM Composite Index appreciated by 0.16% to 211.5 points Monday, as did the BRVM 30 (+0.14% to 106.2 points). On the other hand, the Prestige Index pared by 0.59% to 104.19 points.
- The best-performing stocks include Oragroup (+7.17% to 2,690 FCFA), Sodeci (+4.15% to 4,895 FCFA), and Sitab CI (+3.33% to 6,200 FCFA).
Source: SIKA Finance
BRVM has been one of Africa’s most exciting stock markets this year and recently achieved a historic milestone by reaching XOF 8 trillion (~$13 billion) in equity market capitalization, catapulting the exchange into the top five largest African markets. The exchange serves all eight French-speaking Member States in the West African Economic and Monetary Union (WAEMU) and its recent bullish performance was fueled by a market rally prompted by impressive half-year financial results from major companies listed on the exchange.
This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.