BRVM benchmark index gains marginally on largely bearish stocks

AFRICAN STOCKS AND FINANCEMay 5, 2024 at 7:12 PM UTC

TLDR

BRVM closed with 19 stocks losing and 9 gaining, leading to a 0.33% decline in BRVM Composite index.
Poor performance of shares like ETI, Oragroup, and SIB contributed to capitalization losses.
BRVM 30 and BRVM Prestige indices also decreased by 0.38% and 1.23%, respectively.

On Friday, the BRVM closed with 19 stocks experiencing losses compared to 9 that saw gains. This resulted in a decline of 0.33% in the BRVM Composite index, which closed at 219.19 points for the day, representing a marginal 0.01% weekly gain.

The poor performance of shares such as ETI (-5.88% at 16 FCFA), Oragroup (-7.21% at 1,995 FCFA), and SIB (-3.51% at 5,500 FCFA) contributed significantly to the capitalization losses.

This downward trend also impacted the BRVM 30 and BRVM Prestige indices, which depreciated by 0.38% to 109.98 points and 1.23% to 103.1 points, respectively.

Key Takeaways

The worst performers in the market were two agricultural stocks, SAPH and PALMCI, along with Uniwax. Following closely were Air Liquide, AGL (ex-Bolloré), Oragroup, and Bernabé CI. These stocks experienced declines of more than 7% due to the negative financial performance of their respective companies in 2023. On the positive side, Sodeci stocks saw a 6.50% increase at 5,000 FCFA, followed by Bicici (+3.86% at 7,800 FCFA), Onatel (+3.73% at 2,645 FCFA), and CIE (+3.68% to 1,690 FCFA). These stocks recorded favorable annual results and significant returns.

ETI

Ecobank

SIBC

Oragroup

Stocks

BRVM

Finance

Investments