Sonatel, Ecobank, Oragroup help BRVM rebound after two weekly declines
TLDR
- BRVM stock market saw positive growth last week, boosted by investor confidence in Sonatel, ETI TG, and Oragroup.
- BRVM Composite index reached a six-year peak at 231.66 points, with market capitalization increasing to 8,618.49 billion FCFA.
- BRVM 30 and BRVM Prestige indices also showed improvements, climbing to 115.72 points and 109.64 points respectively.
The regional BRVM stock market reversed a two-week downward trend last week, closing positive due to a resurgence of investor confidence in stocks like Sonatel, ETI TG, and Oragroup.
The BRVM Composite index rose to 231.66 points, marking a new peak in over six years. Market capitalization increased by 0.95%, reaching 8,618.49 billion FCFA compared to 8,537.23 billion FCFA the previous week.
The BRVM 30 index also climbed by 0.75% to 115.72 points, hitting a new threshold since its launch in January 2023. The BRVM Prestige index also improved, rising by 0.86% to 109.64 points.
Key Takeaways
The market had recorded a second weekly decline in the prior week despite positive performances from large-cap stocks like Société Générale CI and Nestlé CI. Between July 8 and 12, 2024, a total of 2.49 billion FCFA was traded on the BRVM stock market. This volume was mainly supported by Sonatel (+1.57% to 19,700 FCFA), Coris Bank International (-1.20% to 10,290 FCFA), and NSIA Banque CI (-4.08% to 5,995 FCFA), which captured the most trades with respective amounts of 330.33 million FCFA, 236.39 million FCFA, and 171.89 million FCFA.
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