Oragroup stock rally leads BRVM's equity market rebound
TLDR
- BRVM stock market ends the week positively after four sessions of decline.
- Oragroup's shares show a significant increase of 7.45%, contributing to the market rise.
- Sodeci, Sicor, Total CI, and Servair Abidjan experienced significant losses in their shares.
After experiencing four consecutive sessions of declines, the regional stock market BRVM concluded the final trading session of the week on a positive note, bringing joy to investors. The key indices on the market, including the BRVM Composite (+0.19% to 209.33 points), the BRVM 30 (+0.09% to 105.2 points), and the BRVM Prestige (+0.71% at 98.39 points), all recorded positive performances.
The standout performer of the session was Oragroup's shares, which, after three consecutive declines, saw a significant increase of 7.45% (reaching 2,525 FCFA), contributing significantly to the overall market rise. Other notable top performers included Saph (+7.05% to 2,355 FCFA), Sitab (+6.19% to 6,000 FCFA), and Sucrivoire (+3.45% to 450 FCFA).
Conversely, the most significant losses were observed in the shares of Sodeci (-7.43% to 4,360 FCFA), Sicor (-6.59% to 3,260 FCFA), Total CI (-5.80% to 1,300 FCFA), and Servair Abidjan (-6.53% to 1,645 FCFA).
Key Takeaways
The WAEUM-focused regional stock exchange BRVM recently announced the reconfiguration of its major indices, namely the BRVM 30 and the BRVM Prestige. The BRVM 30 index, a key performance indicator for the 30 most liquid stocks, undergoes quarterly changes based on specific criteria. For the first quarter of 2024, the composition of the index has been adjusted. The inclusion of Air Liquide, Eviosys Packaging Siem, Alios Finance, and Uniwax CI reflects sustained investor activity. Meanwhile, Oragroup has been included in the BRVM Prestige index (comprising the top 10 stocks with the highest capitalizations), displacing the ETI stock, which, despite its prior favorable standing, has been excluded.
Think someone else should see this?
To invest in this opportunity and other opportunities across Africa
Download the daba finance app on your mobile through
Take action.
Download app
Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.
Partner with us
Unlock exciting business opportunities and growth potential.
Join Daba
Become a part of our vibrant community and enjoy exclusive benefits.
Contact us
Reach out to us for inquiries, support, or collaboration.