BRVM Ends Session Higher Driven by Gains in Nestlé, Tractafric

Daba Finance/BRVM Ends Session Higher Driven by Gains in Nestlé CI, Tractafric

AFRICAN STOCKS AND FINANCEOctober 30, 2024 at 12:04 PM UTC

TLDR

BRVM stock market closes positively with gains from Nestlé CI and Société Générale CI.
Key indices show slight increases: BRVM Composite, BRVM 30, and BRVM Prestige.
Sucrivoire performs well, hitting highest price in over a year; Solibra, Setao CI, and Palm CI experience declines.

The BRVM stock market closed in positive territory on Tuesday with 17 rising stocks against 11 decliners. Market growth was buoyed by capitalization gains from Nestlé CI (+7.47% to 7,625 FCFA) and Société Générale CI (+1.04% to 19,500 FCFA).

Key indices posted gains: the BRVM Composite rose slightly by 0.03% to 269.07 points, the BRVM 30 increased by 0.19% to 133.69 points, and the BRVM Prestige added 0.89% to reach 113.64 points.

Top performers of the session also included Sucrivoire (+7.01% to 840 FCFA), which reached its highest price in over a year. Conversely, Solibra, Setao CI, and Palm CI saw declines of 5.76%, 2.99%, and 2.78%, respectively.

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Key Takeaways

Despite a significant 86% drop in total trading volume to 1.01 billion FCFA compared to the previous day, investor interest remained strong in high-performing stocks like Nestlé CI and Sitab, which led trades with volumes of 293 million FCFA and 253 million FCFA, respectively. The BRVM’s resilience, supported by solid gains from top stocks, reflects steady investor confidence, with market dynamics indicating continued interest in the consumer and industrial sectors.

Stocks

Finance

BRVM

Investing

Equities

Nestle CI

SGBC

Sucrivoire

Solibra

Setao

Palm CI