BRVM benchmark index sees fourth straight week of gains
TLDR
- BRVM stock market trades over 2.1 million shares worth 1.74 billion FCFA, sees positive 0.21% trend increase to 212.98 points.
- Notable gains in SIB CI (+8.11% to 5,800 FCFA) and ETIT (+5.88% to 18 FCFA) stocks contribute to market growth.
- BOA Niger's net profit slightly decreases by 0.57% to 10.07 billion FCFA, highlighting resilience post-sanctions.
Between March 4 and 8, investors on the BRVM stock market traded over 2.1 million shares valued at 1.74 billion FCFA. The market saw a positive trend, with a 0.21% increase to 212.98 points, marking the fourth consecutive week of gains.
During this period, there were 23 declines and 17 rising values, with notable gains seen in stocks like SIB CI (+8.11% to 5,800 FCFA) and ETIT (+5.88% to 18 FCFA), contributing to the overall upward movement of the market.
Additionally, BOA Niger reported a net profit decrease of 0.57% to 10.07 billion FCFA by the end of 2023. Despite facing sanctions in 2023, this slight contraction underscores the company's resilience and stability.
Key Takeaways
During the week, there was a decrease in the value of exchanged shares, totaling 1.74 billion FCFA compared to 1.98 billion FCFA the previous week, marking a 12.12% drop. Sonatel (275.16 million FCFA), Société Générale (170.5 million FCFA), and BOA Niger (151.78 million FCFA) were among the main stocks traded. The market capitalization increased to 7,923.4 billion FCFA from 7,907.1 billion FCFA the previous Friday, representing a gain of 16.37 billion FCFA. Notably, the Egyptian stock exchange recorded the highest performance with a jump of +8.07% for the EGX 30, reaching 31,300.54 points. This was followed closely by the Zambian stock market (+2.85% to 12,416.30 points) and Ghana (+2.92% to 3,341.88 points). Conversely, the Zimbabwe Stock Exchange experienced the largest decline of -3.04% to 506,648.79 points during the week.
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