BRVM benchmark index gains marginally on largely bearish stocks
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.
Think someone else should see this?
To invest in this opportunity and other opportunities across Africa
Download the daba finance app on your mobile through
Take action.
Download app
Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.
Partner with us
Unlock exciting business opportunities and growth potential.
Join Daba
Become a part of our vibrant community and enjoy exclusive benefits.
Contact us
Reach out to us for inquiries, support, or collaboration.