BRVM main index falls on Orange slump despite historic SIB, SGB rally
TLDR
- BRVM Composite index fell by 0.24% due to a 3.93% decline in Orange CI shares to 11,000 FCFA.
- Société Générale CI reached its highest price ever at 20,295 FCFA with a 1.98% increase.
- SIB climbed 7.24% to 6,595 FCFA, its highest in 15 years, contributing to a positive performance in the market.
The BRVM Composite index fell by 0.24% to 225.41 points on Wednesday, largely driven by a 3.93% decline in Orange CI shares, which dropped to 11,000 FCFA ($18.23).
This decline overshadowed the positive performances of Société Générale CI and SIB, despite the former reaching its highest price ever at 20,295 FCFA with a 1.98% increase, and SIB climbing 7.24% to 6,595 FCFA, its highest in 15 years.
The BRVM 30 index also declined by 0.35% to 112.41 points, while the BRVM Prestige index rose by 1.28% to 107.70 points, continuing its upward trend.
Key Takeaways
Top performers for the day included SIB, Oragroup (+6.48% to 1,890 FCFA), and Filtisac (+5.08% to 1,345 FCFA). In contrast, Uniwax experienced the largest drop of the session, falling 5.00% to 380 FCFA, followed by Air Liquide (-7.03% to 595 FCFA) and Orange CI (-3.93% to 11,000 FCFA). Orange CI and Nestlé CI dominated trading activity, accounting for 67.18 million FCFA and 50.43 million FCFA respectively, out of a total transaction volume of 421.70 million FCFA.
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