BRVM benchmark index declines marginally to end week in red

AFRICAN STOCKS AND FINANCEFebruary 11, 2024 at 3:22 PM UTC

TLDR

Regional stock market experiences a fourth consecutive session in the red.
Composite index closes with a marginal decline of 0.02% at 207.86 points.
Orange CI, the second-largest capitalization, sees a decline of -0.37% to 10,655 FCFA.

Since the beginning of the week's trading, the regional stock market struggled to find stability, marking a fourth consecutive session in the red on Friday.

The Composite index experienced a marginal decline of 0.02%, closing at 207.86 points, while the BRVM 30 index held steady at 104.31 points. However, the BRVM Prestige index managed to secure a modest gain of 0.33%, reaching 97.41 points.

The slight downturn in the market can be attributed largely to the relative loss of Orange CI, the second-largest capitalization on the market, which experienced a decline of -0.37% to 10,655 FCFA, despite having more increases (13) than drops (9) in its balance of variations.

Key Takeaways

In terms of individual stocks, Vivo Energy recorded the most significant decline, dropping by -6.79% to 755 FCFA, albeit with a relatively low volume of 4.39 million FCFA. Similarly, Servair Abidjan (-4.44% to 1,290 FCFA), CFAO Motors CI (-2.70% to 720 FCFA), and SIB (-0.56% to 5,295 FCFA) also experienced declines. Conversely, Filtisac (+5.57% to 1,800 FCFA) and Total SN (+4.82% to 2,390 FCFA) saw notable gains, providing some stability to the market. On Friday, February 9, 2024, investors traded a total volume of 127.18 million FCFA, with over 19% of transactions occurring on BOA CI (+1.41% to 7,200 FCFA), totaling 24.82 million FCFA.

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