BOA Mali leads gainers as benchmark BRVM Composite Index rises 1.12%
TLDR
- BRVM Composite Index (BRVM-CI) gained 0.4% on Friday, closing at 214.29, with a weekly increase of 1.12% and a four-week increase of 0.86%.
- Bank of Africa - Mali led with a significant 7.36% share price jump, followed by Bank of Africa - Senegal, Setao Côte d’Ivoire, and Oragroup Togo.
- Sogb Côte d’Ivoire was the top loser with a 4.76% price drop, followed by Uniwax Côte d’Ivoire, Sitab Côte d’Ivoire, and Sode Côte d’Ivoire in a mixed market performance.
The BRVM Composite Index (BRVM-CI) showed positive momentum on Friday, closing at 214.29, which represents a 0.4% increase. Over the week, the index gained 1.12%, while over the past four weeks, it saw an increase of 0.86%. Year-to-date, the index has recorded a modest gain of 0.07%.
Among the top gainers for the day, Bank of Africa - Mali led with a remarkable share price appreciation of 7.36%, closing at XOF 1,605 per share. This was followed by Bank of Africa - Senegal (+5.35%), Setao Côte d’Ivoire (+5.23%), and Oragroup Togo (+4.55%).
Conversely, the top losers included Sogb Côte d’Ivoire, which experienced a price depreciation of 4.76% at XOF 3,700 per share. This was followed by Uniwax Côte d’Ivoire (-3.74%), Sitab Côte d’Ivoire (-1.79%), and Sode Côte d’Ivoire (-1.02%). Overall, the market exhibited mixed performance with notable gains in some sectors and declines in others, reflecting the dynamics of individual stocks within the BRVM.
Key Takeaways
The impressive financial performance of BOA Mali in 2023 propelled its share price to the top of the variations, with a gain of 7.36% to 1,605 FCFA. The bank's significant profit increase of 135% to more than 5 billion FCFA in 2023 has reignited investor confidence in the value of the stock, reaching levels not seen since the lifting of the embargo in 2022. In terms of market-wide performance, several indices demonstrated notable gains. The BRVM Prestige index increased by 0.91% and recorded a weekly gain of 1.65%, although it is down by 1% year-to-date (YTD). Similarly, the BRVM 30 index rose by 0.41%, with a weekly gain of 0.98%, but it remains down by 0.2% YTD. The BRVM Principal index increased by 0.36% and saw a weekly gain of 1.19%, with a slight YTD increase of 0.17%.
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