BRVM Closes Week Higher on Orange Gains, Strong Stock Performances

AFRICAN STOCKS AND FINANCEOctober 30, 2024 at 11:54 AM UTC

TLDR

BRVM stock market closed positively; NSIA Banque CI surged to a six-year high after strong Q3 2024 results.
Key indices rose, with BRVM Composite up by 0.79% and significant gains in top performers like SICOR and BOA CI.
Active investor participation seen with 7.04 billion FCFA total trading volume, driven by transaction on SGCI.

The BRVM stock market closed the past week on a positive note, with 18 rising stocks against 13 decliners as NSIA Banque CI surged to a six-year high, buoyed by strong Q3 2024 results. Total trading volume reached 7.04 billion FCFA, driven mainly by transactions on SGCI.

Key indices posted gains: the BRVM Composite rose 0.79% to 269.00 points, the BRVM-30 advanced 0.85% to 133.44 points, and the BRVM Prestige added 0.12% to reach 112.64 points. This growth is largely attributed to Orange CI capitalization gain of 28.62 billion FCFA.

Top performers included Sicor (+7.50% to 3,225 FCFA), Sicable CI (+7.35% to 1,095 FCFA), NSIA CI (+6.76% to 7,900 FCFA), and BOA CI (+5.15% to 5,820 FCFA). In contrast, CFAO Motors, BOA Mali, and Uniwax saw declines, with drops of -3.03%, -2.56%, and -1.09%, respectively.

You can follow Daba’s reporting on Africa on WhatsApp. Sign up here

Points clés à retenir

The BRVM’s end-of-week rally underscores a solid market performance driven by Orange CI’s gains and rising interest in NSIA Banque CI following robust quarterly results. Notable performances from stocks like SICOR, SICABLE CI, and BOA CI point to investor confidence, while sectors like automotive (CFAO MOTORS) and textiles (UNIWAX) showed some volatility. Total trades of 7.04 billion FCFA, with heavy trading on SGCI, reflect active investor participation in the region’s stock market.

Stocks

BRVM

Investing

NSIA

Orange

BOA CI

BOA Mali

Sicable

Sicor

Uniwax