BRVM closes its first trading session of 2024 in the red
The BRVM (Bourse Régionale des Valeurs Mobilières) has experienced a sluggish start in the year 2024. Notably, key market indices, including the BRVM Composite index (-0.64% at 212.77 points), BRVM 30 (-0.76% at 107.03 points), and BRVM Prestige (-0.79% at 100.67 points), registered declines in the closing of the first trading session.
This negative performance is attributed to the decrease in Orange CI (-2.75% at 10,600 FCFA), the second-largest capitalization on the BRVM, along with a decline in the Oragroup share. This downturn may be linked to a consolidation phase following previous market performances.
Notable securities in the flop 3 of this listing include Oragroup (-5.49% at 2,495 FCFA), Alios Finance (-3.47% at 1,250 FCFA), and Sicable (-3.15% at 1,075 FCFA). Despite a general decline with 22 decreases compared to 9 increases, certain stocks demonstrated significant gains. Noteworthy performers include Servair (+6.77% at 1,420 FCFA), Uniwax (+6.54% at 570 FCFA), and Bernabé (+5.00% at 1,050 FCFA).
Key Takeaways
In alignment with the positive trend observed in most African stock markets at the close of 2023, the BRVM (Bourse Régionale des Valeurs Mobilières) also concluded the year on a positive note, exhibiting robust performances in its main indices. BRVM 30 indices showed an impressive increase of +7.85%, BRVM Prestige witnessed a growth of +1.47%, and BRVM Composite posted a solid gain of +5.38%. Looking ahead to 2024, the BRVM faces various challenges that include efforts to expand the number of listed companies, particularly the admission of SMEs, enhanced involvement of institutional investors, the promotion of stock market awareness among the population, the ascent of sustainable finance and Islamic finance, the exploration of new markets, the expedited integration of African stock exchanges, and more robust implementation of technology to ensure faster and more secure transactions.
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