BRVM Market Continues Downward Trend on Key Stocks Decline

AFRICAN STOCKS AND FINANCEJanuary 16, 2025 at 11:48 AM UTC

TLDR

The BRVM stock market extended its decline, with major indices recording losses
This downturn is largely attributed to the decline of key stocks like BICICI and Ecobank
But showed resilience, including Bernabé CI, Filtisac CI, and Nestlé CI

The BRVM stock market extended its decline, with major indices recording losses. The composite index fell 0.21% to 270.09 points, while the BRVM-30 dropped 0.14% to 135.80 points. The prestige index also saw a 0.26% decrease, closing at 111.76 points.

This downturn is largely attributed to the decline of key stocks. BICICI lost 5.75 billion FCFA in market capitalization, while Ecobank saw a decline of 5.5 billion FCFA. Several other stocks faced significant losses, including SMB CI (-7.47% to 7,495 FCFA), Air Liquide CI (-5% to 475 FCFA), and CFAO Motors CI (-4.20% to 570 FCFA).

However, a few stocks showed resilience, with Bernabé CI gaining 7.33% to close at 1,025 FCFA, Filtisac CI rising 1.94% to 1,840 FCFA, and Nestlé CI increasing 1.01% to 7,980 FCFA. Palm CI shares maintained investor interest, accounting for 26.55% of trading, with a volume of 166.55 million FCFA out of a total transaction value of 627.32 million FCFA.

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Key Takeaways

The BRVM’s continued decline reflects market uncertainty, driven by significant depreciation in major stocks such as BICICI and Ecobank. Despite the broader downturn, stocks like Bernabé CI and Filtisac CI offered a glimmer of optimism with notable gains. Palm CI's high trading volume signals ongoing investor interest in select stocks, even amidst challenging market conditions. Investors remain cautious, but pockets of opportunity continue to emerge in the region's financial markets.

Stocks

BICICI

Ecobank

CFAO Motors

SMB

Air Liquide

Bernabe

Filtisac

Nestle

Palm CI