Orange, BICICI Share Prices Hit Record Highs as BRVM Stays Bullish
TLDR
- West African BRVM stock exchange closed on a bullish note, with key indices like BRVM Composite, BRVM 30, and BRVM Prestige showing positive movement.
- Top performers included Sonatel (SNTS) and Orange (ORAC) stocks, with BICICI (BICC) leading in capitalization gains.
- Notable gains were seen in SMB, SOGB, and CIE stocks, while Uniwax, Bernabé, and BOA BF showed weaker performances.
The West African BRVM stock exchange closed last week on a bullish note, marking its fourth straight session of gains. Key indices saw positive movement, with the benchmark composite index rising 0.42% to 271.33 points, the BRVM 30 up 0.45% to 135.64 points, and the BRVM Prestige gaining 0.64% to reach 113.18 points.
This upward trend was fueled by strong performances from shares of Sonatel (SNTS), up 0.44% at 23,705 FCFA, and Orange (ORAC) advancing 0.47% to 16,175 FCFA. BICICI (BICC) led the market in capitalization gains, rising 3% to 12,000 FCFA. Orange and BICICI stocks have reached their all-time highs.
Top performers included SMB (+5.72% at 11,000 FCFA), SOGB (+4.29% at 4,500 FCFA), and CIE (+3.10% at 2,325 FCFA). In contrast, Uniwax (-6.90% at 405 FCFA), Bernabé (-4.76% at 1,100 FCFA), and BOA BF (-2.73% at 3,210 FCFA) showed the weakest performances.
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Key Takeaways
BRVM’s consistent weekly gains underscore positive investor sentiment, driven by robust performances from major players like Sonatel, Orange CI, and BICICI. Total transaction volume reached 586.75 million FCFA, down from 3.5 billion FCFA in the previous session. Orange CI, SIB, and Nestlé CI dominated trading, with transaction values of 94.76 million FCFA, 80.99 million FCFA, and 65.60 million FCFA, respectively. Despite a drop in total transaction volume compared to the previous session, the exchange's steady upward trajectory highlights a strong market response to leading stocks reaching peak valuations.
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