MARKET UPDATES

BVRM stocks start the new week on bullish note

1 min Read September 26, 2023 at 11:02 AM UTC

Highlights

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).

Our Takeaway

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.

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