BRVM kicks off final trading week of the year negative

BREAKING NEWSDecember 27, 2023 at 2:16 PM UTC

The day after Christmas, the BRVM (Bourse Régionale des Valeurs Mobilières) stock market experienced a 0.26% decline in its Composite Index, which settled at 211.54 points. This contraction can be attributed to a predominance of decreases (20 declines against 10 increases).

Also, the presence of Orange CI (-1.87% at 10,500 FCFA) among the regressions, offset the performance of Sonatel (+1.74% at 17,795 FCFA). In sync with the Composite Index, the BRVM 30 Index also showed a decline of 0.24%, settling at 106.40 points, while the BRVM Prestige improved slightly (+0.02% at 100.18 points).

It's noteworthy that shares of Sonatel, the BRVM giant in terms of capitalization, continued their upward trajectory, reaching a new high in the last 5 years. Throughout this session, the total cumulative volume amounted to 821.4 million FCFA, with the majority observed in Sonatel, accounting for 73.52% of daily activity.

Key Takeaways

The previous trading week had concluded on a positive note for the BRVM. Key market indices, including the BRVM Composite (+0.95% at 212.09 points), the BRVM 30 (+0.85% at 106.66 points), and the BRVM Prestige (+1.66% at 100.16 points), all ended in positive territory. The favorable balance of variations, with 22 increases against 11 decreases, contributed to this overall positive trend. Notably, Sonatel played a significant role in driving this momentum, with a gain of +3.49% at 17,490 FCFA. Sonatel's daily capitalization increased by 59 billion FCFA, marking the highest peak since May 2019. Some notable performances during the session included BICICI (+7.38% at 7,495 FCFA), NEI CEDA (+7.35% at 730 FCFA), and SMB CI (+6.70% at 10,670 FCFA). BICICI shares reached their highest price in almost two years, while NEI CEDA achieved its highest peak since January. These developments mark a traditional end-of-year bull rally.

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