BRVM Stock Market Stabilizes After Recent Telco-Led Declines
TLDR
- The BRVM Composite Index remained flat at 291.84 points, while the BRVM Prestige Index was unchanged at 122.79 points
- Setao led gains, rising 6.77% to 710 FCFA ($1.18), followed by Sitab, up 4.11% to 9,995 FCFA ($16.61), and Air Liquide
- The overall market capitalization saw some gains, driven by Coris Bank, which rose 2.44% to 10,495 FCFA ($17.45), adding 8 billion FCFA
The BRVM Composite Index remained flat at 291.84 points, while the BRVM Prestige Index was unchanged at 122.79 points. The BRVM 30 Index declined slightly by 0.01% to 146.87 points.
Setao led gains, rising 6.77% to 710 FCFA ($1.18), followed by Sitab, up 4.11% to 9,995 FCFA ($16.61), and Air Liquide, which climbed 3.03% to 510 FCFA ($0.85). Declining stocks included Bernabé, which dropped 6.05% to 1,010 FCFA ($1.68), Filtisac, down 3.79% to 3,050 FCFA ($5.07), and CIE, which lost 2.25% to 2,610 FCFA ($4.34).
The overall market capitalization saw some gains, driven by Coris Bank, which rose 2.44% to 10,495 FCFA ($17.45), adding 8 billion FCFA ($13.3 million). Sitab also gained 7 billion FCFA ($11.6 million). Trading volume fell sharply to 454.9 million FCFA ($756,000), a 99.95% drop from 904.2 billion FCFA ($1.5 billion) the previous day. BOA CI remained stable at 5,700 FCFA ($9.47), accounting for 17.98% of total trade.
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Key Takeaways
The sharp drop in trading volume suggests reduced liquidity and investor caution. Despite some stock-specific movements, the overall market showed limited activity. Investor sentiment remains cautious, balancing between risk exposure and market stability. The performance of BOA CI, which dominated trading volumes while remaining stable, highlights the defensive positioning of investors in the current environment.
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