BRVM main index declines marginally under weight of Onatel, Sonatel

BREAKING NEWSMarch 17, 2024 at 3:55 PM UTC

TLDR

BRVM market witnessed 15 increases and 13 decreases, with total transaction volume reaching 488.71 million FCFA last week.
Major market indices like BRVM Composite, BRVM 30, and BRVM Prestige saw declines due to losses in key stocks such as Onatel, Sonatel, and CFAO Motors CI.
Despite gains, market indices like BRVM Composite dropped by 0.07%, BRVM 30 by 0.23%, and BRVM Prestige by 0.30% reflecting a downward trend in the market.

The BRVM market last week witnessed 15 increases and 13 decreases, with a total transaction volume of 488.71 million FCFA, marking a significant increase from the previous day's 144 million FCFA.

Despite the prevalence of gains, major market indices, including the BRVM Composite (-0.07% to 211.92 points), BRVM 30 (-0.23% to 106.59 points), and BRVM Prestige (-0.30% to 98.83 points), experienced declines.

This downward trend was primarily attributed to losses incurred by key stocks such as Onatel (-7.47% to 2,105 FCFA), Sonatel (-0.47% to 17,810 FCFA), and CFAO Motors CI (-5.16% to 735 FCFA), which significantly influenced market capitalization.

Key Takeaways

The worst-performing stocks for the week included Uniwax and Tractafric Motors Cl, while top gainers for the session were Bicici (+7.38% to 7,350 FCFA), Vivo Energy Cl (+6.99% to 765 FCFA), and Oragroup (+6.74% to 2,295 FCFA). Despite the positive financial performance announcement from BOA for the year 2023, with profits up 30%, the stock experienced a slight decline (-0.41% to 7,250 FCFA). In terms of trading activity, Sonatel, Onatel, and Sitab (+1.61% to 6,300 FCFA) were the most actively traded stocks, with transactions totaling 160.81 million FCFA, 89.52 million FCFA, and 63.18 million FCFA, respectively.

BRVM

Sonatel

Onatel

CFAO Motors CI

Uniwax

Tractafric Motors CI

Vivo Energy

Bicici

Sitab

Oragroup

Stocks

Finance